Private jet membership company Wheels Up Experience said Tuesday that it would receive up to $500 million in rescue financing from Delta Airlines and investors with turnaround experience in the travel and tourism industries, according to a release seen by The Wall Street Journal.
With the new capital infusion Wheels Up, a startup that was founded on the idea of expanding access to private-jet ownership, has a path to averting bankruptcy, which the company has been exploring as one of its strategic options.
Wheels…
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