Costco is Now Selling Private Jet Memberships and Nexi SpA Buys Nets In $9.2 Billion Deal
Nexi SpA, an Italian payments processor has made a big commitment after agreeing to buy its rival, Nets A/S for a monstrous 7.8 billion euros ($9.2 billion in USD equivalent.) The move comes just one month after the company purchased state-backed competitor SIA SpA for 4.6 billion euros, effectively creating one of the largest payment processors in all of Europe.
Now, the mega-behemoth has an even bigger footprint across Europe. The company has operations in Italy, German speaking countries and the Nordics.
One of the main reasons why travel demand has taken a hit this year is because people don’t want to risk catching the virus while travelling alongside so many other people from all walks of life. Costco has partnered up with Wheels Up, a private jet charter company to allow members to fly around without needing to worry about exposing themselves to the public.
The membership is being sold for $17,500 for one year and includes a $3500 Costco shop card and $4000 worth of flight credit. Costco’s stock is up over 28% year to date.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.