Wheels Up has secured $332 million in financing to fund a three-year expansion and modernization plan that will buy it 100 new jets and give it financial stability. The company, which began with a handful of King Airs and Beechjets grew to become one of the largest on-demand charters in the U.S.
Interesting. After immediately going public the company runs into financial difficulty and is bailed out by Delta. Now Delta is pouring more money into what appears to be a bottomless pit. It’s so easy to spend other people’s money. The decision makers will never get touched, however, the share holders will pay dearly.