Tropic Ocean Airways (TI, Fort Lauderdale International) has received an undisclosed minority capital investment from executive charter operator Wheels Up (WUP, Teterboro) to help fund the Florida-based seaplane specialist's continued growth and support shared initiatives under a new commercial agreement, including the introduction of new flights that will be exclusive to Wheels Up customers.
Tropic Ocean Airways services more than 70 destinations through private- and shared charters throughout Florida, the Northeast, the Bahamas, and the Caribbean with its fleet of nine-seater amphibious and wheeled Cessna (single turboprop) Caravan EXs."This partnership will help us extend the reach of our existing products, invest in our operational capabilities, and expand our offerings to more places and more service types," said Tropic Ocean Airways Chief Executive Officer Rob Ceravolo.
Wheels Up is an ad-hoc private aviation provider that also has a strategic partnership with Delta Air Lines (DL, Atlanta Hartsfield Jackson). Its new multi-year commercial agreement with Tropic Ocean Airways is aimed at expanding its market and offering first- to last-mile travel solutions for its members and customers, the company said in a statement. The agreement will integrate Tropic Ocean Airways' charter- and certain scheduled by-the-seat services into Wheels Up’s system, meaning passengers will be able to book and pay directly through Wheels Up to fly on Tropic Ocean Airways flights.
The parties will initially focus on providing Wheels Up customers with greater accessibility within Tropic Ocean Airways' current coverage area. Over time, the intention is to expand to additional markets in the United States and the Caribbean.
"Tropic Ocean delivers a strong geographic and product fit as the locations they currently serve are very popular with our members and with an aircraft type that extends the range and access capability of our existing fleet,” explained Wheels Up Chief Executive Officer Kenny Dichter.
Tropic Ocean Airways offers scheduled flights from its Fort Lauderdale International base to Bimini North SPB, Bullock Harbour, Cat Cays, and Nassau International in the Bahamas.
