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.

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