The share price for Wheels Up dove from $3.13 to $1.24 today after reports it hired restructuring lawyers from Kirkland & Ellis
Wheels Up is again trying to stave off inferences that it plans to seek bankruptcy protection.
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Wheels Up is again trying to stave off inferences that it plans to seek bankruptcy protection.
The NetJets Association of Shared Aircraft Pilots (NJASAP) issued a press release claiming Saturday’s informational picket outside the 2023 Berkshire Hathaway Shareholders’ Meeting in Omaha as the largest in the operator’s history.
Wheels Up Founder, Chairman and CEO Kenny Dichter is stepping down immediately. CFO Todd Smith becomes Interim CEO. Board Member Ravi Thakran becomes Executive Chairman. At the same time, the company is restructuring its capped-rate Core membership program, per a flurry of press releases issued this morning.
During the annual Berkshire Hathaway shareholders meeting earlier today in Omaha, Nebraska, Chairman and CEO Warren Buffett heaped praise on his private aviation business when answering a question about NetJets.