Finance, Taxes, Insurance
Wheels Up Receives $40 Million from New Investors
Kore Capital and Whitebox Advisors add to Wheels Up's $390 million term loan
(Photo: Barry Ambrose/AIN)
(Photo: Barry Ambrose/AIN)

Wheels Up has added another $40 million to the $390 million term loan and $100 million revolving credit facility it received in September. The funds were provided by Kore Capital and managed by Whitebox Advisors.

These new investors join Delta Air Lines, Certares Management, Knighthead Capital Management, and Cox Enterprises, providing an additional term loan of $40 million under the existing credit agreement. In October, Wheels Up CFO Todd Smith told AIN that the company planned to seek up to an additional $50 million to the nearly $500 million loan/credit line combination it received in September.

Loading…

In this article