QualityStocksNewsBreaks – Wheels Up Experience Inc. (NYSE: UP) Sells Three Non-Core Businesses for $20 Million to Advance Fleet Modernization Strategy
Wheels Up Experience (NYSE: UP) announced the sale of Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security to an unrelated third party for approximately $20 million in proceeds before expenses. The Company plans to reinvest the net proceeds into its fleet modernization strategy and for general corporate purposes. CEO George Mattson said the divestiture sharpens strategic focus, complements recently announced initiatives targeting $50 million in cost efficiencies, and supports Wheels Up’s path to profitable growth. The transaction aligns with ongoing efforts to streamline operations and advance the Company’s fleet simplification and modernization strategy. To view the full press…
