Wheels Up Announces Divestiture of Non-Core Services Businesses

Wheels Up Announces Divestiture of Non-Core Services Businesses

Continued streamlining of business operations to further company's profitability goals

Wheels Up Sells Entities in Profitability Push

Private aviation firm Wheels Up announced this week that it has sold off three non-core businesses in an effort to streamline operations. The company sold Baines Simmons, Kenyon International Emergency Services, and Redline Assured Security to an unnamed “unrelated third party” for approximately $20 million in proceeds before transaction-related expenses. Wheels Up plans to use that money to advance its ongoing fleet modernization strategy. Bain…