The New York Stock Exchange (NYSE) notified Wheels Up (WUP, Teterboro) on December 17 of non-compliance with the USD1 minimum average share price requirement.

The stock market authority granted the operator six months to regain compliance. Wheels Up previously received a similar notice in April and returned to compliance in June following a reverse stock split. The latest notice has no immediate effect on the listing or trading of the company's common stock. Unless compliance is restored by other means, Wheels Up plans to pursue another reverse stock split, for which shareholder authorisation remains in place until the 2026 annual meeting, although no board approval has yet been granted.

Separately, on December 22, Wheels Up announced an agreement with an institutional capital provider for the sale-and-leaseback of 10 aircraft acquired during the fourth quarter of 2025, comprising three Challenger 300s and seven Phenom 300s. The transaction is valued at approximately USD105 million. Of the proceeds, USD65 million will be used to repay outstanding debt under a revolving equipment notes facility, while approximately USD40 million will be added to the balance sheet as cash net proceeds.

Wheels Up expects the cash inflow and incremental borrowing capacity to support further acquisitions of additional Challenger 300 series and Phenom 300 family aircraft in 2026, in line with the broader fleet modernisation plan announced in late 2024.