Wheels Up enters $105M sale-leaseback for 10 aircraft; net proceeds ~$40M for fleet expansion

Wheels Up Experience Inc.

Sale-leaseback of 3 Challenger 300s and 7 Phenom 300s for ~$104.7M; closes by Dec 31, 2025.
Net cash proceeds of ~$39.4M to balance sheet after repaying ~$65M debt under revolving equipment notes facility.
Proceeds and incremental borrowing capacity to fund planned 2026 acquisitions of additional Challenger and Phenom aircraft.
Company has acquired or agreed to acquire 10 additional aircraft in Q4, supporting Signature membership growth.
First Phenom 300 equipped with Gogo Galileo HDX satellite Wi-Fi enters service; fleet-wide upgrade underway.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Wheels Up Experience Inc. entered into APA with UMB Bank, N.A., a national banking organization, not in its individual capacity but solely as owner trustee valued at approximately $104.7 million (effective 2025-12-22).

Action: entry
Agreement: asset purchase
Counterparty: UMB Bank, N.A., a national banking organization, not in its individual capacity but solely as owner trustee
Value: approximately $104.7 million
Effective: 2025-12-22

Exact text from the filing

On December 22, 2025, Wheels Up Partners LLC (“WUP LLC”), an indirect subsidiary of the Company, entered into an Aircraft Purchase Agreement with UMB Bank, N.A., a national banking organization, not in its individual capacity but solely as owner trustee (“Buyer” and such agreement, the “APA”), pursuant to which (i) WUP LLC expects to sell three (3) Bombardier Challenger 300 series and seven (7) Embraer Phenom 300 series aircraft (collectively, the “Leased Aircraft”) to Buyer (the “Sales”), and (ii) concurrently with such Sales, Wheels Up Private Jets LLC, an indirect subsidiary of the Company, expects to enter into long-term operating leases with Buyer for all 10 Leased Aircraft (together with the Sales, the “Transactions”).

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Wheels Up Experience Inc. filing history →

Source: SEC EDGAR

accession 0001628280-25-058631

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