---
schema_version: "secwatch.filing_event.v1"
accession: "0001819516-24-000059"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2024-10-22T23:59:59+00:00"
generated_at: "2026-05-30T11:46:48.677062+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Wheels Up to acquire 17 Phenom aircraft for $105M, secure $332M revolver with Delta support

## Summary
- Agreement with GrandView Aviation to buy 17 Embraer Phenom 300/300E aircraft and related assets for $105M.
- Bank of America commits up to $332M senior secured revolving credit facility; Delta provides credit support.
- Proceeds will fund the acquisition, redeem ~$148.9M existing equipment notes, and add ~$75-115M cash.
- Wheels Up to sell all 13 owned Citation X aircraft and lease back to transition to Challenger 300 fleet.
- Fleet modernization targets ~10-year average age reduction; Phenom and Challenger fleet complete in ~3 years.

## SEC filing metadata
- accession: 0001819516-24-000059
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2024-10-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000059/0001819516-24-000059-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000059/up-20241022.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819516-24-000059
- JSON: https://secwatch.observer/filing/0001819516-24-000059.json
- Plain text: https://secwatch.observer/filing/0001819516-24-000059.txt

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