Wheels Up: Be Patient, But A Turnaround Is In The Works
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Wheels Up has announced a $332 million financing package from Bank of America, guaranteed by Delta, to purchase new aircraft. This move is part of their strategy to standardize their fleet and improve operational efficiency, aiming for adjusted EBITDA profitability by 2025.
November 22, 2024 | 12:15 pm
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Wheels Up has secured a $332 million financing package from Bank of America, guaranteed by Delta, to purchase new aircraft. This is expected to improve operational efficiency and help the company achieve adjusted EBITDA profitability by 2025.
The financing package allows Wheels Up to standardize its fleet with newer aircraft, which is expected to reduce operational and maintenance costs. This is a significant step towards achieving profitability, positively impacting the stock price.
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