Wheels Up Announces Divestiture of Non-Core Services Businesses

Core Insights - Wheels Up Experience Inc. has sold three non-core services businesses for approximately $20 million, aiming to reinvest the proceeds into fleet modernization and general corporate purposes [1][2] - The divestiture is part of a broader strategy to enhance operational performance, streamline business operations, and strengthen the company's balance sheet, with an estimated $50 million in cost efficiencies expected from recent initiatives [2] Company Overview - Wheels Up is a leading provider of on-demand private aviation in the U.S., featuring a diverse fleet and a global network of safety-vetted charter operators, emphasizing safety and service [3] - The company offers charter and membership programs, along with commercial travel benefits through a partnership with Delta Air Lines, and also provides cargo services to various clients, including government organizations [3]