Delta, Certares And Knighthead To Co-lead A $500m Facility In Wheels Up; Lenders To Receive Newly Issued Wheels Up Class A Common Stock Resulting In The Lenders Owning ~95% Of The Pro Forma Equity Of The Company
Portfolio Pulse from Charles Gross
Delta Air Lines, Certares, and Knighthead are set to co-lead a $500 million facility in Wheels Up. As a result, the lenders will receive newly issued Wheels Up Class A common stock, leading to the lenders owning approximately 95% of the pro forma equity of the company.
August 15, 2023 | 4:58 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Delta Air Lines is co-leading a $500 million facility in Wheels Up, which will result in the lenders owning approximately 95% of the pro forma equity of the company.
Delta's investment in Wheels Up could potentially increase its stake in the company, which could lead to increased revenues and profits in the future. This could have a positive impact on Delta's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Wheels Up is set to receive a $500 million facility co-led by Delta Air Lines, Certares, and Knighthead. This will result in the lenders owning approximately 95% of the pro forma equity of the company.
The $500 million facility could provide Wheels Up with the necessary capital to expand its operations and increase its market share. This could potentially lead to increased revenues and profits, which could have a positive impact on its stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100