en.Wedoany.com Reported - 5x5 Trading, serving as the exclusive trading partner for Wheels Up Experience Inc. (NYSE: UP), has managed the acquisition and disposition of nearly 100 aircraft since 2024, helping the company complete its jet fleet modernization project 18 months ahead of its original schedule. 5x5 Trading is an International Aircraft Dealers Association (IADA)-accredited dealer and fleet consultancy.
This project supported Wheels Up's strategic decision to streamline its controlled fleet from four jet types to two, establishing a centralized fleet centered around the Embraer Phenom 300 and Bombardier Challenger 300/350. Both aircraft types are in high demand in the private aviation sector.
The four principals of 5x5 Trading—Seth Zlotkin, Chris Brenner, John Odegard, and Jeremy Bogle—leveraged their aviation expertise to play a key role in executing the fleet transformation for Wheels Up. The founding team has collectively completed over $1 billion in private aviation sales throughout their careers, with backgrounds spanning some of the industry's largest institutional operators.
John Odegard, co-founder of 5x5 Trading and Chairman of IADA, stated that this is precisely the purpose for which 5x5 Trading was established. A fleet transformation of this scale requires that every acquisition and disposition be managed within the context of subsequent transactions. They worked closely with the Wheels Up team to sequence the transition in order to protect operational continuity and adhere to the predetermined timeline.
The early completion of the jet fleet modernization project positions Wheels Up for its next phase of growth. The company continues to expand its Phenom and Challenger fleets to meet demand for its Wheels Up Signature membership and charter programs.
Meaghan Wells, Chief Growth Officer at Wheels Up, stated that modernizing the controlled fleet was a critical step in Wheels Up's transformation. They set an aggressive timeline because the opportunities ahead demanded it. They designed the strategy and brought in 5x5 Trading to execute key components. Their transaction discipline helped the company achieve a simpler, more efficient fleet ahead of schedule—a foundation that allows Wheels Up to expand its fleet behind the Signature membership program and deliver the experience customers expect.
