Wheels Up slumps after bankruptcy warning

Wheels Up Experience

15/08/2023 12:34

** Shares of private jet charter company Wheels Up
Experience  UP.N  fall 13.4% to $1.23 premarket
    ** Co considers strategic alternatives including filing for
bankruptcy protection
    ** Q2 net loss widened to $160.6 million vs $92.76 million,
hurt by weaker demand for private jet travel
    ** Reports a working capital deficit of $720.8 million
    ** YTD, stock down 86.21%

 (Reporting by Abhinav Parmar)
 ((Abhinav.Parmar@thomsonreuters.com;))