Private aviation company Wheels Up has agreed to acquire Air Partner for $107 million.
UK-based Air Partner, which was founded in 1961, has operations in 18 locations across four continents.
The companies expect the deal to close later in the first quarter subject to shareholder and regulatory approvals.
Air Partner provides private jet, group and freight charter and aviation safety and security solutions.
Kenny Dichter, chairman and CEO, Wheels Up, said: "This acquisition will allow us to offer existing and future customers even more compelling and seamless options for private travel, expand the reach of our marketplace in key markets around the world, and add important operational capabilities to our network.”
Wheels Up combined with Delta Private Jets in 2020, and went public via a special purpose acquisition company in 2021. The company also launched its Up for Business offering to corporate customers last June.
The company reported a 55 per cent year-on-year increase in third quarter 2021 revenue, a 29 per cent rise in users to more than 12,000 and a 52 per cent increase in live flight legs to more than 19,700.
It has also amended membership terms for new customers, requiring more advance notice ahead of travel, raising pricing and requiring larger block commitments for peak-day guarantees.
Wheels Up declined further comment, citing a "quiet period."