Wheels Up says the non-compliance notice due to its stock price, its second of the year, has no impact on operations or financing.
Wheels Up Experience Inc. was notified of non-compliance by the New York Stock Exchange after the closing price of its common stock did not reach the one-dollar mark over a consecutive 30-day trading period.
The Delta Air Lines-backed private jet flight provider said it received the notice on Dec. 17, 2025.
According to the company, “The NYSE’s notice has no immediate effect on the listing of Wheels Up’s common stock on the NYSE, which will continue to be listed and trade on the NYSE under the symbol UP, subject to Wheels Up’s compliance with the other NYSE continued listing standards.”
It has six months to regain compliance with the minimum share price requirement.
In a statement, the company said:
‘Wheels Up remains committed to execution of its multi-year business transformation, including advancing its fleet transition to Bombardier Challenger 300 series and Embraer Phenom 300 series jets, its previously announced efficiency, productivity and overhead cost reduction actions expected to deliver approximately $70 million of annualized run-rate cost savings upon completion beginning in mid-2026, and leveraging its first-of-its-kind partnership with Delta to deliver premium solutions for every customer journey. Receipt of the NYSE notice does not affect Wheels Up’s plans to execute its strategic initiatives, its objective to build a resilient business model to support sustainable future profitability, or its ability to serve its members and customers.’
Wheels Up said it may consider “various available options to regain compliance.”
Stockholders previously authorized its board to complete a reverse stock split of the common stock at any time before the company’s 2026 annual meeting of stockholders, subject to certain conditions.
“Unless Wheels Up otherwise regains compliance with the minimum price requirement through other available methods, it intends to regain compliance with the NYSE’s listing standards by completing a reverse stock split with sufficient time before the end of the six-month cure period to cure the noted deficiency,” per a press release from the company.
It continued, “Any potential reverse stock split would require the approval of the Board of Directors and be publicly announced by the company following any such approval.”
The announcement noted, “The board of directors has not approved a reverse stock split as of the date of this press release.”
A separate SEC filing noted the NYSE action, “does not affect the company’s reporting requirements under applicable law and the rules and regulations promulgated by the SEC or result in an event of default under any of the company’s material debt agreements or other arrangements.”
It is the second time this year the NYSE has cited the company for non-compliance based on its stock price.
It received a notice in April of this year.
However, by June, its stock had rebounded back over the dollar mark.
Wheels Up also received a similar notice in 2023.
It regained compliance via a reverse split.
UP has traded between $0.52 and $3.50 over the past 52 weeks.
It closed at 66 cents today.
Despite the ups and downs, its current market cap is $476.2 million.
Speaking at CJI Miami in November, CEO George Mattson told the audience, “Things can flip quicker than you think.”
Mattson said current earnings are being dragged as it completes its fleet transition.
He predicted continued financial improvements in 2026.
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