Reprieve for Wheels Up as investors offer $500 million

Delta Air Lines, Certares Management – a travel industry investment specialist – and turnaround investment firm Knighthead Capital Management, have agreed to an expanded partnership with Wheels Up Experience to accelerate the company’s business transformation. Wheels Up, the on-demand private aviation provider, was reported to be in talks with lenders to avoid a bankruptcy filing last week. In a regulatory filing, Wheels Up said that it was unable to file a quarterly report because it was expending resources working with advisors and lender to secure new strategic investments, without which it concluded that there was “substantial doubt about its ability