The airline’s Q3 SEC filing valued its 27% stake from combining Delta Private Jets into Wheels Up at $240 million
Delta’s stake in Wheels Up is now worth nearly twice its 9% in Air France-KLM, one of Europe three largest airline conglomerates
When Delta Air Lines announced the deal to combine its Delta Private Jets unit into Wheels Up in December 2019, and then it closed in January 2020, terms were not disclosed.
However, in the airline’s 10-Q filing for the quarter ended Sept. 30, 2020, a number of details were revealed for the first time.
Wheels Up Partners Holdings LLC incorporates Wheels Up, Gama Aviation Signature, Delta Private Jets, TMC Jets, and Avianis
If it’s Friday night, it’s a good time to check the Treasury Department’s website for updates about CARES Act awards. Tonight’s reveal showed on June 10 a payroll support agreement providing $74.2 was executed with Wheels Up Partners Holdings LLC.
SuiteKey members save the normal $17,500 joining and membership fee
Wheels Up is offering customers of now grounded JetSuite the ability to fly in its membership program waiving the $17,500 joining and initiation fees.