Wheels Up secured $332 million in financing, guaranteed by Delta Air Lines, to fund a three-year expansion and modernization plan.
This initiative aims to purchase 100 new jets and provide financial stability following the company's previous financial troubles and bailout by Delta.
Fleet modernization includes replacing Beechjets with Embraer Phenom 300s and Citation Xs with Bombardier Challenger 300s, beginning with the acquisition of 17 Phenom 300s from Grandview Aviation.
Wheels Up has secured $332 million in financing to fund a three-year expansion and modernization plan that will buy 100 new jets and provide financial stability.
The company, which began with a handful of King Airs and Beechjets, grew to become one of the largest on-demand charters in the U.S.
CREATE A FREE ACCOUNT
Sign up to keep reading
Create a free account to continue. Already a member? Sign in below.
Russ Niles is Editor-in-Chief of AVweb. He has been a pilot for 30 years and joined AVweb 22 years ago. He and his wife Marni live in southern British Columbia where they also operate a small winery.
