Wheels Up Receives NYSE Continued Listing Standard Notice

Core Viewpoint - Wheels Up Experience Inc. is focused on improving profitability and expanding margins through fleet modernization, partnerships, and premium customer solutions [1][2]. Financial Compliance - Wheels Up received a notice from the NYSE on April 22, 2025, indicating that its average closing stock price was below $1.00 for 30 consecutive trading days, which is necessary for continued listing [1][3]. - The company has six months to regain compliance with the NYSE's minimum share price requirement and plans to seek stockholder approval for a reverse stock split at its annual meeting on June 10, 2025 [3]. Business Strategy - The company is committed to long-term operational improvements and aims to build a resilient business model for sustainable profitability [2]. - Key initiatives include modernizing its fleet with Embraer Phenom 300 and Bombardier Challenger 300 jets, leveraging a partnership with Delta Air Lines, and delivering premium solutions for customers [2]. Financial Position - As of December 31, 2024, Wheels Up had approximately $316 million in liquidity, consisting of about $216 million in unrestricted cash and an undrawn $100 million commitment from Delta [2]. Company Overview - Wheels Up is a leading provider of on-demand private aviation in the U.S., offering a diverse fleet and a global network of safety-vetted charter operators [4]. - The company provides charter and membership programs, as well as freight, safety, security, and managed services to various clients, including individuals and government organizations [4].