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Wheels Up Experience Inc. secures a $68 million debt facility from Sankaty Jet Capital to modernize its fleet with new aircraft.
Amount Raised
$68 Million
Investors
Description
Sankaty Jet Capital has provided a secured mezzanine facility worth $68 million to Wheels Up Experience Inc. The funds will facilitate the purchase of Phenom 300 and Challenger 300 Series aircraft as part of fleet modernization plans. This facility is secured by 51 existing aircraft valued at approximately $277.8 million. The arrangement is expected to support Wheels Up's growth in the business aviation sector.
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