Originally announced in December 2019, Delta Air Lines (DL, Atlanta Hartsfield Jackson) has now completed its planned deal with executive charter operator Wheels Up (WUP, Teterboro), wherein the US carrier has now exited the private jet market after 20 years.

The deal involves the sale of Delta Private Jets (Cincinnati International) to Wheels Up with Delta, in turn, gaining an unspecified equity position in Wheels Up. It also creates an owned and managed fleet of nearly 200 aircraft, ranging from the Beech (twin turboprop) King Air 350is to large-cabin jets.

“Together, Wheels Up and Delta will democratise the industry to make private flying and the private flying lifestyle accessible to significantly more individuals and businesses around the world,” Wheels Up Founder and Chief Executive Officer Kenny Dichter said in a statement. “By adding Delta Private Jets and partnering with Delta, our membership platform has evolved to one that can fulfil a vast range of flight needs on a very large scale.” The new company has 8,000+ members and customers.

As part of the deal, Delta’s Chief Operating Officer Gil West has joined the Wheels Up Board of Directors. Delta Private Jets employees will also continue to operate out of their current location in Cincinnati.

Financial terms of the transaction were not disclosed, and there is no expected impact to Delta’s 2020 financial guidance.