A point should be made to all those on this board. WheelsUp is NOT a Fractional operation. Fractional companies operate under Part 91K of the FAR's. The customers of Fractional companies are owners of at least a 1/16 share of an aircraft.
WheelsUP is totally Part 135. The customers are "members", think COSTCO, not owners. They pay a much smaller fee than at NetJets of Flex jet and pay a charter rate for the airplane. Members have no equity in any of the WheelsUP aircraft.
WheelsUp is a marketing company and the aircraft are operated by GAMA Aviation. GAMA is the Part 135 certificate holder.