Wheels Up has sold three subsidiaries it described as non-core service businesses—Baines Simmons Safety Services, Kenyon Emergency Services, and Redline Assured Security—to TrustFlight, the companies announced today.
This transaction will yield approximately $20 million that Wheels Up plans to reinvest net proceeds in its ongoing fleet modernization plan and for general corporate purposes. It said the sale is part of a wider effort to streamline the group’s business and improve operational performance, as explained in its second-quarter financial results.
“The divestiture of these non-core service businesses is the latest in a series of steps that Wheels Up has taken to sharpen our strategic focus; invest in our product, fleet, and operations; and strengthen our balance sheet,” said CEO George Mattson. “The sale, along with our recently announced initiatives estimated to drive approximately $50 million of cost efficiencies, is expected to create meaningful tailwinds on our path to sustained, profitable growth.”
UK-based TrustFlight provides software and data to clients across the aviation sector, including aircraft operators, airports, MRO organizations, and regulators. The company said the acquisition of the three Wheels Up businesses will expand its portfolio to cover training and regulatory expertise, aviation security and quality assurance, and critical incident support.
All three of the businesses included in the transaction have been part of Wheels Up’s UK-based Air Partner charter brokering division. Baines Simmons supports clients with risk, compliance, and safety management, while Redline provides training, quality assurance, and software, and Kenyon is a crisis management and emergency response specialist.
“Customers tell us compliance shouldn’t be a reactive, last-minute exercise,” said Richard Steeves, TrustFlight’s chairman. “This combination gives every segment of aviation a single, integrated partner that makes safety proactive and continuous, with one accountable pathway across prevention, assurance, and recovery. We are delighted to welcome these trusted teams and to offer the market a clear, integrated choice in safety.”