Charter & Fractional
Wheels Up Pulls Harder on Delta Lifeline
Wheels Up gets $30 million from Delta
(Photo: Barry Ambrose/AIN)
(Photo: Barry Ambrose/AIN)

Wheels Up is pulling harder on a financial lifeline from Delta Air Lines. In a Form 8-K filed Monday with the U.S. Securities and Exchange Commission, Wheels Up said it was adding up to $30 million to the $15 million short-term financing it received from Delta in the form of a secured promissory note signed August 8.

Following the initial $15 million payment, the companies agreed to amend that note to include an additional $10 million, which Wheels Up received on August 16. Now they have amended it a second time to add another $20 million, bringing the aggregate value of the promissory note up to $45 million.

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