Loan & DebtNov 5, 2026, 07:12 AM
Wheels Up Secures $100M Delta Credit Facility; Q3 Revenue Down
AI Summary
Wheels Up Experience Inc. announced a significant expansion of its credit facility, securing an additional $100 million revolving credit facility from Delta Air Lines. This new facility, with similar terms to the existing one, will be available until December 1, 2027. The company also reported its third-quarter financial results, showing a decrease in revenue to $164.8 million and an increased net loss of $89.4 million. Additionally, Wheels Up is investing in its fleet with an order for six new Embraer Phenom 300E aircraft.
Key Highlights
- Wheels Up secured an additional $100 million revolving credit facility from Delta Air Lines.
- The new facility, the '2026 Revolving Credit Facility', has similar terms to the existing '2023 Revolving Credit Facility'.
- Borrowings under the 2026 Revolving Credit Facility are available through December 1, 2027, with interest at 10% per annum and a 2% per annum facility fee.
- The company reported Q3 2026 GAAP Revenue of $164.8 million, a 11% decrease year-over-year.
- Net loss for Q3 2026 was $89.4 million, an increase from $83.7 million in Q3 2025.
- Wheels Up announced a landmark order for six factory-new Embraer Phenom 300E aircraft for delivery in H2 2027.
Price Impact
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