The value of Delta Air Lines’ stake in Wheels Up increased to $520 million from $210 million, surpassing its 13% holding in Korean Air
Delta Air Lines’ decision to sell Delta Private Jets has yielded a huge gain on paper. It’s up over 100% just since the fourth quarter. In its latest 10-Q filing, the Atlanta-based airline increased the carrying value of its 24% interest in Wheels Up to $520 million. That makes the New York-based private aviation company its largest equity ownership stake.
Super Bowl hospitality for Wheels Up members will include Rao’s by the Beach
Hopefully, Delta Air Lines CEO Ed Bastian likes Italian food.
If his deal to merge Delta Private Jets with Wheels Up closes before Super Bowl LIV, Bastian probably won’t have to worry about getting a table at Rao’s, at least the pop-up version coming to South Beach.
According to a press release, Wheels Up, alongside W South
Beach and Rao’s Restaurant Group, will run a pop-up replica of the iconic
Neapolitan eatery Jan. 29 through Feb. 1.