Delta Air Lines agrees to further extend lock up restriction with Wheels Up
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Background ✨
Wheels Up said its primary investor group led by Delta Air Lines committed to a new USD100 million term loan, with capacity to expand by a further USD100 million, and it also planned to upsize a revolving equipment notes facility via a mezzanine tranche arranged by AIP Capital, targeting 2Q2026 close and USD165 million incremental liquidity.1 Wheels Up CEO George Mattson said it completed a transition to a Signature Program and pursued USD70 million+ annual cash cost savings through mid 2026.2 Wheels Up also planned to let members self-book Delta commercial flights via its portal from early Jan-2026.3