Wheels Up finalizes new investment with Delta, Certares, Knighthead and Cox
Source: Delta Air Lines The $500 million credit facility is expected to provide financial stability and serve as a strategic platform for future profitable growth. The company also announced a new Board of Directors structure. Wheels Up Experience announced that it has closed the previously announced investment by Delta Air Lines, Certares Management LLC, Knighthead Capital Management LLC and Cox Enterprises. The new investment structure combines the experience of Delta, the No. 1 premium airline, with the travel and tourism focus of Certares and turnaround and restructuring experience of Knighthead. It includes an agreement for a $500 million credit facility to Wheels Up, with funds contributed by Delta and CK Wheels LLC, which is co-managed by affiliates of Certares and [...]