---
schema_version: "secwatch.filing_event.v1"
accession: "0001819516-24-000034"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2024-06-07T23:59:59+00:00"
generated_at: "2026-06-01T05:39:48.507641+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Wheels Up sells non-core aircraft management business for $19.1M; records $3.0M loss

## Summary
- Sold 100% of Circadian Aviation to Executive AirShare on Sept 30, 2023.
- Total consideration of $19.1M: $13.2M cash, $4.8M contingent, $0.6M escrow, $0.5M receivable.
- Company recognized a $3.0M loss on the sale.
- Pro forma financials remove Aircraft Management Business revenue of $120.6M (6mo 2023) and $217.3M (FY 2022).
- Divestiture part of strategic focus on operational efficiency and cost reduction.

## SEC filing metadata
- accession: 0001819516-24-000034
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2024-06-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 9.01, 2.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/0001819516-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/up-20230930.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819516-24-000034
- JSON: https://secwatch.observer/filing/0001819516-24-000034.json
- Plain text: https://secwatch.observer/filing/0001819516-24-000034.txt

## Key facts
- M&A Transactions
  Wheels Up Experience Inc. completed a disposition involving Executive AirShare LLC for $19.1 million (closed 2023-09-30).
  - Action: disposition
  - Counterparty: Executive AirShare LLC
  - Consideration: $19.1 million
  - Closing: 2023-09-30
  source text: assets as it focused on its operational efficiency and other cost reduction initiatives. The fair value of the aggregate consideration transferred, as of September 30, 2023, was $19.1 million and the Company recognized a loss on the sale of $3.0 million. The $19.1 million was comprised of $13.2 million of cash received on the Closing Date, contingent consideration
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000034/0001819516-24-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.