Wheels Up Sells Three Non-Core Services Businesses for $20 Million to Refocus on Core Operations

Reuters

Aug 21

Wheels Up Sells Three Non-Core Services Businesses for $20 Million to Refocus on Core Operations

Wheels Up Experience Inc. has announced the sale of three non-core services businesses-Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security-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 operations and focus on fleet modernization. The company plans to reinvest the net proceeds from the sale into its fleet modernization strategy and for general corporate purposes. According to George Mattson, Chief Executive Officer, this move aligns with Wheels Up's strategic focus and is expected to contribute to sustained, profitable growth.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Wheels Up Experience Inc. published the original content used to generate this news brief via PR Newswire (Ref. ID: NY55540) on August 20, 2025, and is solely responsible for the information contained therein.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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W","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"UP":"Wheels Up Experience Inc.","BK4008":"航空公司"},"translate_title":"Wheels Up以2000万美元出售三项非核心服务业务，重新专注于核心业务","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UP":0.9},"content_text":"Wheels Up Sells Three Non-Core Services Businesses for $20 Million to Refocus on Core Operations\n    \n\nWheels Up Experience Inc. has announced the sale of three non-core services businesses-Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security-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 operations and focus on fleet modernization. The company plans to reinvest the net proceeds from the sale into its fleet modernization strategy and for general corporate purposes. 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