David Baxt introduces Wheels Up in London

Corporate Jet Investor Staff
By Corporate Jet Investor Staff February 19, 2014 11:24 Updated

David Baxt introduces Wheels Up in London

David Baxt introduces Wheels Up to the delegates at International Corporate Jet & Helicopter Finance 2014.

Private aviation’s hottest new flight club, Wheels Up, was represented at International Corporate Jet & Helicopter Finance 2014 – held earlier this month in London – as president and co-founder, David Baxt delivered a presentation alongside Jim Palen, managing director at Jefferies & Company.

MUST READ: Everything you need to know about Wheels Up

Jefferies, a global investment banking firm, arranged $100 million in debt finacing for Wheels Up’s fleet of King Airs in November 2013. The deal was recognised at the Corporate Jet Investor Awards 2014, with Wheels Up sharing the award for ‘Deal of the Year’ with Thomas Flohr’s new aircraft leasing company, IALT.

“Private aviation is too expensive and not as accessible as it could be,” said Baxt. “The idea behind Wheels Up was to change that one more time. This is the team, to a certain extent, that created Marquis Jet a decade or so ago, which democratised private aviation for the first time by creating the 25 hour [jet] card. The idea with Wheels Up is a branded luxury lifestyle club.”

Baxt claimed that the average flight time for fractional jet ownership programmes is under two hours. “[For] two hours or less, there’s no reason you shouldn’t be in a King Air,” he added.

He also said that Wheels Up would love to base a King Air 350i in London and a made a number of references to London City Airport throughout the presentation.

You watch some of the highlights from Baxt’s presentation in the video above and delegates/members can also download the slideshow,  as well as more than 30 other presentations from the three-day conference.

Corporate Jet Investor Staff
By Corporate Jet Investor Staff February 19, 2014 11:24 Updated

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