Wheels Up (WUP, Teterboro) and Sankaty Jet Capital, a subsidiary of global investment firm AIP Capital, have closed a USD68 million committed secure mezzanine facility to support the acquisition of additional Challenger 300 and Phenom 300 aircraft over the next 18 months, as part of a fleet modernisation programme announced in late 2024. The financing was previously disclosed alongside a USD100 million term loan, with an option for an additional USD100 million, provided by the company's main investor group, led by Delta Air Lines. The mezzanine facility is secured against 51 existing aircraft with an aggregate appraised value of USD277.8 million.