Wheels Up Experience Has Entered Into A Non-Binding Letter Of Intent With Airshare, A Leading Operator In The U.S. With A Complementary Business, To Acquire Wheels Up's Non-Core Aircraft Management Business; No Financial Terms Disclosed
Portfolio Pulse from Happy Mohamed
Wheels Up Experience Inc. (NYSE:UP) is in discussions for strategic business partnerships and has received a short-term capital infusion from Delta Air Lines. The company has also entered into a non-binding letter of intent with Airshare to acquire Wheels Up's non-core aircraft management business. The company has postponed its earnings communications and cancelled the call for today.
August 09, 2023 | 11:41 am
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Wheels Up is in strategic partnership discussions and has received a capital infusion from Delta Air Lines. It is also planning to acquire a non-core business from Airshare. The company has postponed its earnings call.
The news of a capital infusion from Delta Air Lines and the potential acquisition of a non-core business from Airshare could be seen as positive developments for Wheels Up, potentially leading to a short-term increase in the company's stock price. However, the postponement of the earnings call could introduce some uncertainty.
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