Airshare Acquires Wheels Up Management Business

A week after the deal for Delta Air Lines and a few other investors to buy troubled Wheels Up Experience, the new owners have sold the private management part of the business to Kansas City-based Airshare. According to Forbes contributor Doug Gollan, the deal involves the shifting of 90 managed aircraft and 300 staff to Kansas City, bringing to 146 the total number of planes under its care. That leaves Wheels Up with 215 aircraft, including 75 King Airs and 113 light and super midsize jets.

The Airshare acquisition is part of a growth spurt by Airshare, which is known for its policy of not charging for repositioning flights within 120 miles of 30 major airports. The company says it expects the transition will be seamless since it's taking the whole business, including all the staff. At the same time, Wheels Up will continue its transition to a leaner operation under a restructured management and board of directors.