Mark Huber is an aviation industry veteran who has worked in the flight training, aircraft sales, aircraft component, and airport development businesses. He has flight time in more than 50 different and diverse aircraft, including helicopters, aerobatic aircraft, vintage warbirds, jet fighters, business jets and turboprops, and transport-category aircraft. He has jumped out of several of these—on purpose—with a parachute. His defense and aviation journalism has been published in a variety of national and international periodicals.

Contributor

Mark Huber

Wheels Up has tapped Delta Air Lines for another $15 million in short-term capital infusion, bringing its total indebtedness to the U.S. carrier to $60 million from funds received since August 8. The cash-strapped private aviation group revealed the transaction late Friday in a Form 8-K filed with the U.S. Securities and Exchange Commission (SEC). The need to seek additional cash from Delta suggests that Wheels Up continues to record large monthly operating losses.
On August 15, Wheels Up announced that Delta and investment firms Certares and Knighthood&nbsp;<a href="https://www.ainonline.com/aviation-news/business-aviation/2023-08-15/delta-consortium-takes-control-wheels-provides-500">would receive 95 percent of the company’s stock</a>&nbsp;in exchange for a loan of $400 million plus a $100 million “liquidity facility” from Delta. In its latest quarterly financial statement, Wheels Up reported $161 million in losses and $335 million in revenue during the second quarter of this year while seeing its available cash erode from $363 million to $152 million—close to a $125 million minimum required by loan covenants.
Wheels Up shares have surged 50 percent in the last week, giving the company a market capitalization of $67 million. Over the last year, Wheels Up shares have shed 85 percent of their value, adjusted for a reverse stock split enacted by the company in June.

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

Delta Air Lines Pumps Another $15M into Private Aviation Group Wheels Up

Airline has plowed $60 million into Wheels Up over the last month

Private flight provider Wheels Up has depended on cash infusions from shareholder Delta Air Lines as it seeks to reverse operating losses.

Delta Air Lines Pumps Another $15 Million into Wheels Up

2024 Corporate Aviation Leadership Summit

Sarah Rose

News and issues concerning general aviation, specifically airplanes and helicopters powered by piston and alternative engines (i.e., non-turbine powered aircraft). Subjects include aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

All flights to be carbon-neutral

Sentient Signature Announces Sustainability Partnership

Charles Alcock

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

Philippines-based company signed a letter of intent with France’s Ascendance

Charter Operator Signs for More Atea Hybrid Electric VTOL Aircraft

Amy Wilder

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

Pricing has climbed, but flexibility is also improving

Jet Card Flexibility Improves as Hourly Rates Tick Up

Tool supports real-time flight coordination

Levo Introduces AI Platform for Charter Matching

Kaleyesus Bekele

News about commercial airlines, including regulations, aircraft orders, safety, acquisitions, and mergers.

News and issues relating to international air transport and cargo carriers, national airlines and regional airlines, including aircraft, engines, personnel, acquisitions, accidents, safety, security and training.

East African carrier has taken delivery of a Boeing Business Jet

Ethiopian Airlines Launches VIP Charter Flight Division

Curt Epstein

New Jersey-based company will migrate to Florida

Aircraft Services Group Building New Headquarters

News and issues regarding all manner of civil and military rotorcraft and their powerplants, including helicopters, tilt rotors and unmanned air vehicles.

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