Finance, Taxes, Insurance
Wheels Up Sells Three Safety Businesses to TrustFlight
Baines Simmons, Kenyon Emergency Services, and Redline Assured Security have been sold
Wheels Up
Private flight provider Wheels Up has sold three safety-related subsidiaries to raise funds to support its fleet modernization plans.

Wheels Up has sold three subsidiaries it described as non-core service businesses—Baines Simmons Safety Services, Kenyon Emergency Services, and Redline Assured Security—to TrustFlight, the companies announced today.

This transaction will yield approximately $20 million that Wheels Up plans to reinvest net proceeds in its ongoing fleet modernization plan and for general corporate purposes. It said the sale is part of a wider effort to streamline the group’s business and improve operational performance, as explained in its second-quarter financial results.