Wheels Up Experience Inc. announced on August 20, 2025, the sale of three non-core services businesses – Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security. These businesses were sold to an unrelated third party for approximately $20 million in proceeds before transaction-related expenses.
This divestiture is part of Wheels Up's ongoing efforts to streamline its business operations and sharpen its strategic focus. The company expects to reinvest the net proceeds from the sale to further its fleet modernization strategy and for general corporate purposes.
CEO George Mattson stated that this sale, combined with recently announced initiatives expected to drive approximately $50 million in cost efficiencies, is anticipated to create meaningful tailwinds on the company's path to sustained, profitable growth. The move reinforces Wheels Up's commitment to investing in its core product, fleet, and operations while strengthening its balance sheet.
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