DAL · 10-Q · 2026Q2 · Full report

Wheels Up Partnership Financing

DELTA AIR LINES, INC. · 2026-07-10 · Importance 40 · Surprise 42 · In source text

During the six months ended June 30, 2026, Wheels Up drew on the revolving working capital credit facility and had $36 million outstanding as of June 30, 2026. In May 2026 Wheels Up entered a new $100 million term loan credit agreement, of which Delta contributed $57 million and other shareholders provided the remainder, with a scheduled maturity date of May 29, 2029. The new financing is intended to support Wheels Up's fleet and product transformation initiatives, operational improvements and enhanced product offerings. The outstanding working capital draw and Delta's $57 million contribution reflect continued partnership support during 2026.

Key facts

• In May 2026, Wheels Up entered into a new $100 million term loan credit agreement, of which Delta contributed $57 million and other shareholders contributed the remainder; scheduled maturity date is May 29, 2029. source
• During the six months ended June 30, 2026, Wheels Up had $36 million outstanding under the revolving working capital credit facility and that facility is required to be repaid by September 20, 2028. source
• Delta's voting rights with respect to Wheels Up are capped at 29.9%. source
• Wheels Up's revolving working capital credit facility outstanding amount as of June 30, 2026 was an unnamed $million and the facility is required to be repaid by September 20, 2028. source

Impact estimates