Wheels Up closes $68M aircraft financing; Delta extends lock-up on 36% stake to May 2027

Filed May 26, 2026 · Period ending May 21, 2026 · ~1 min read

Key Changes

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  Closed $68M revolving aircraft financing secured by 42 jets, receiving $64.3M net proceeds for working capital and fleet expansion of Bombardier Challenger 300 and Embraer Phenom 300 aircraft. Facility bears 5.97% interest and matures May 2027.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Delta Air Lines extended lock-up on its 36.3% ownership stake through May 22, 2027, preventing sale of approximately 35.6% of outstanding shares. Extension signals Delta's confidence but limits its liquidity options for another year.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →
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  Delta provides credit support effectively guaranteeing payment obligations under aircraft financing facilities upon specified defaults, in exchange for annual fee paid in-kind. Deepens Delta's financial involvement beyond equity stake.

  Item 1.01 — Entry into a Material Definitive Agreement verify on EDGAR →