The 1-for-20 stock split is designed to put the Delta Air Lines-backed private jet company back in compliance with NYSE listing standards.
Delta Air Lines-backed Wheels Up completed a reverse stock split after the close of trading on April 24, 2026.
The previously announced move is designed to restore it to compliance with New York Stock Exchange listing standards after its share price fell below $1 for an extended period.
Wheels Up said on April 14, 2026, “The company believes that following the effectiveness of the reverse stock split, the number of shares of common stock outstanding will align more closely to peer companies with similar market capitalizations.”
The 1-for-20 reverse stock split is also expected to meet the criteria for inclusion in the Russell 3000.
Wheels Up had previously considered a reverse stock split in April 2025.
However, its shares recovered above the dollar mark back then.
The company’s shares fell below the dollar mark for 30 consecutive trading days in December 2025.
Its previous reverse split came in June 2023.
Following the split, UP opened the day at $7.99.
It briefly rose to $8.16.
UP closed at $6.24.
READ: Jefferies’ Nick Fazioli on Why Wall Street Loves Private Jets
Delta Air Lines has been seeking to turn the company profitable since leading a $500 million investment in August 2023.
That included installing new management.
Wheels Up has been trying to appeal to the airline’s corporate accounts via fleet update.
Its new fleet is focused on the popular Phenom 300 and Challenger 300 platforms.
The Embraer light jet has been a top seller for over a decade.
Bombardier’s super-midsize Challengers are a staple of leading fractional operators.
Delta Air Lines’ CEO Ed Bastian has previously said the private jet company is integral to its strategy of catering to premium flyers.
Wheels Up went public via a SPAC IPO in July 2021.
Delta became its largest shareholder in January 2020 after selling Delta Private Jets to Wheels Up.
Wheels Up ended 2025 as the fourth-largest U.S. operator ranked by charter and fractional flight hours.
READ: A brief history of Airlines and Private Jet partnerships
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