Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series Aircraft

Core Insights - Wheels Up Experience Inc. has closed a $332 million revolving equipment notes facility led by Bank of America, with credit support from Delta Air Lines, to finance the acquisition of GrandView Aviation's fleet of 17 Embraer Phenom 300 and Phenom 300E aircraft [1][2] Group 1: Financial Transactions - The new$332 million facility refinances Wheels Up's existing fleet and finances the purchase of GrandView's fleet, providing additional borrowing access for fleet transition [2] - The acquisition of GrandView Aviation's assets is a strategic move to enhance customer experience and support the company's growth goals [1][2] Group 2: Fleet Expansion and Customer Experience - The acquisition of GrandView's Phenom fleet allows Wheels Up to introduce newer, more capable aircraft into its offerings, enhancing flexibility and comfort for customers [2] - The company aims to deliver a premium solution for every customer journey, supported by a mobile app and website for easy access to services [4]