Wheels up buys Gama Aviation, ramping up its challenge to NetJets

Ten years ago Kenny Dichter exited NetJets, the largest operator of private jets in the world. He’s back, in its rearview mirror, and closing.

Yesterday’s acquisition by Wheels Up of Gama Aviation Signature gives him a U.S.-based fleet of over 300 owned and managed private aircraft, second to only his former company.

The deal to acquire Gama Aviation Signature does not include Gama Aviation PLC in the U.K. or Signature Aviation, two well-known brands in business aviation, which were minority owners in the acquired company.

According to Argus Traqpak, Gama clocked 103,096 flight hours in 2019, the most of any U.S. Part 135 charter operator, almost twice that of second place Executive Jet Management, a unit of NetJets.