Delta Air Lines Ups Stake in Wheels Up to 10%

TL;DR

DELTA NOW OWNS 10% OF WHEELS UP AFTER BUYING 10M SHARES.

AI Summary

Delta Air Lines, Inc. has filed an amendment (No. 5) to its Schedule 13D, reporting a change in its beneficial ownership of Wheels Up Experience Inc. as of September 24, 2024. Delta Air Lines now holds 10,000,000 shares of Class A Common Stock, representing 10.0% of the outstanding shares, acquired through a stock purchase agreement.

Why It Matters

This filing indicates a significant ownership increase by a major airline in a private aviation company, potentially signaling strategic alignment or future collaboration.

Risk Assessment

Risk Level: medium — The filing involves a significant ownership change in a public company, which could impact its stock price and strategic direction.

Key Numbers

• 10,000,000 — Shares Owned (Delta Air Lines' new beneficial ownership in Wheels Up Experience Inc.)
• 10.0% — Ownership Stake (Delta Air Lines' percentage of Wheels Up Experience Inc. outstanding shares)

Key Players & Entities

• Delta Air Lines, Inc. (company) — Filing party and significant shareholder
• Wheels Up Experience Inc. (company) — Subject company
• 10,000,000 (dollar_amount) — Number of shares owned by Delta Air Lines
• 10.0% (dollar_amount) — Percentage of outstanding shares owned by Delta Air Lines
• 20240924 (date) — Date of reporting change in beneficial ownership

FAQ

From the Filing

0001683168-24-006628.txt : 20240924 0001683168-24-006628.hdr.sgml : 20240924 20240924170002 ACCESSION NUMBER: 0001683168-24-006628 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240924 DATE AS OF CHANGE: 20240924 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Wheels Up Experience Inc. CENTRAL INDEX KEY: 0001819516 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, NONSCHEDULED [4522] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 981617611 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-91713 FILM NUMBER: 241320742 BUSINESS ADDRESS: STREET 1: 2135 AMERICAN WAY CITY: CHAMBLEE STATE: GA ZIP: 30341 BUSINESS PHONE: 1-855-359-8760 MAIL ADDRESS: STREET 1: 2135 AMERICAN WAY CITY: CHAMBLEE STATE: GA ZIP: 30341 FORMER COMPANY: FORMER CONFORMED NAME: Aspirational Consumer Lifestyle Corp. DATE OF NAME CHANGE: 20200729 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DELTA AIR LINES, INC. CENTRAL INDEX KEY: 0000027904 STANDARD INDUSTRIAL CLASSIFICATION: AIR TRANSPORTATION, SCHEDULED [4512] ORGANIZATION NAME: 01 Energy & Transportation IRS NUMBER: 580218548 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: HARTSFIELD-JACKSON ATLANTA INTL AIRPORT STREET 2: 1030 DELTA BOULEVARD CITY: ATLANTA STATE: GA ZIP: 30354-1989 BUSINESS PHONE: 4047152600 MAIL ADDRESS: STREET 1: 1030 DELTA BLVD. STREET 2: DEPT 981 CITY: ATLANTA STATE: GA ZIP: 30354 FORMER COMPANY: FORMER CONFORMED NAME: DELTA AIR LINES INC /DE/ DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: DELTA AIR CORP DATE OF NAME CHANGE: 19660908 SC 13D/A 1 delta_sc13da5.htm SCHEDULE 13D AMENDMENT 5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D/A Under the Securities Exchange Act of 1934 (Amendment No. 5)* Wheels Up Experience Inc. (Name of Issuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securities) 96328L 205 (CUSIP Number) Peter W. Carter Executive Vice President – External Affairs Delta Air Lines, Inc. 1030 Delta Boulevard Atlanta, GA 30354 (404) 715-2600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) September 22, 2024 (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐ . Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule §240.13d-7 for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“ Act ”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).       CUSIP No. 96328L 205 SCHEDULE 13D 1 Names of Reporting Persons DELTA AIR LINES, INC. 2 Check the Appropriate Box If a Member of a Group (See Instructions) a. ☐ b. ☒ 3 SEC Use Only 4 Source of Funds (See Instructions) SC 5 Check Box If Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ☐ 6 Citizenship or Place of Organization Delaware Number of Shares Beneficially Owned By Each Reporting Person With 7 Sole Voting Power 263,369,307 8 Shared Voting Power 0 9 Sole Dispositive Power 263,369,30