Wheels Up Receives NYSE Continued Listing Standard Notice

Rhea-AI Summary

Wheels Up (NYSE: UP) received a NYSE notice on Dec 17, 2025 that its average closing share price fell below the $1.00 minimum over a 30‑trading‑day period required for continued listing. The notice does not immediately affect trading; the company has six months to regain compliance.

Management reiterated focus on a multi‑year transformation: transitioning fleet to Bombardier Challenger 300 and Embraer Phenom 300 jets, targeting approximately $70 million of annualized run‑rate cost savings beginning mid‑2026, and leveraging its partnership with Delta. The company may pursue a reverse stock split (previously authorized by stockholders) if other remedies do not restore compliance; the board has not approved any split.

Positive

• Targeted $70 million annualized cost savings beginning mid‑2026
• Planned fleet transition to Challenger 300 and Phenom 300 jets
• Continued partnership with Delta to expand premium offerings

Negative

• Average share price below the $1.00 NYSE minimum over 30 trading days
• Company has six months to regain NYSE compliance or face delisting risk
• Board has not yet approved a reverse split despite prior shareholder authorization

Key Figures

NYSE minimum price $1.00 per share Average closing price required over 30 consecutive trading days for NYSE listing

Non-compliance period 30 trading days Period over which average closing price was below $1.00

Cost savings target $70 million annually Expected annualized run-rate cost savings beginning mid-2026

Cure period Six months Time from NYSE notice for UP to regain minimum share price compliance

Reverse split authorization window Through 2026 annual meeting Period during which board may implement shareholder-approved reverse split

Market Reality Check

$0.6609 Last Close

Volume Volume 3,172,751 is slightly below the 20-day average of 3,663,455 (relative volume 0.87x). normal

Technical Shares at 0.6609 trade below the 200-day MA of 1.4 and sit 81.12% under the 52-week high, but only 12.02% above the 52-week low.

Peers on Argus

Peer moves are mixed, with ASLE up 2.33% while CAAP, PRG, NSSC, and CMPR are down between 0.55% and . This contrasts with UP’s -2.95% move, suggesting company-specific pressure tied to the NYSE notice.

Historical Context

Date	Event	Sentiment	Move	Catalyst
Dec 17	Delta integration feature	Positive	-7.4%	Launch of self-booking Delta commercial flights for members via portal.
Dec 09	Lock-up extension	Positive	+12.7%	Lead investors extend lock-up on about 85% of outstanding shares.
Nov 05	Q3 2025 earnings	Negative	-5.5%	Revenue decline and sizable net loss despite improving bookings and savings plan.
Oct 23	Earnings date notice	Neutral	+7.6%	Announcement of scheduled release date for Q3 2025 financial results.
Oct 22	Dining partnership	Positive	-4.0%	New in-flight dining partnership and membership offering enhancements.

Pattern Detected

Positive strategic or partnership news has often been followed by negative or muted price reactions, while lock-up extensions and mixed earnings updates have seen more aligned moves.

Recent Company History

Over the last few months, Wheels Up has focused on partnerships and operational changes while managing financial losses. The Nov 5, 2025 Q3 results showed $185.5M revenue and a $83.7M net loss, alongside targeted $70M run-rate savings by Q3 2026. Strategic collaborations with Delta and AtYourJet aimed to enhance offerings, and a major lock-up extension covered about 85% of shares through May 22, 2026. Today’s NYSE listing notice fits into an ongoing turnaround amid a depressed share price near 52-week lows.

Market Pulse Summary

The stock is down -6.2% following this news. A negative reaction despite management’s focus on cost savings fits a pattern where UP often traded lower even after strategic updates. The NYSE notice underscored that the average price stayed below $1.00 for 30 days, reinforcing existing downside pressure with shares already 81.12% under the 52-week high and below the 200-day MA. With prior news on partnerships and product enhancements not preventing declines, concerns about listing status and potential corporate actions could have weighed further on sentiment.

Key Terms

new york stock exchange regulatory

"it received a notice from the New York Stock Exchange ("NYSE") on December 17, 2025"

The New York Stock Exchange is a marketplace where people buy and sell shares of publicly traded companies. It functions like a busy trading hub, helping investors transfer ownership of company parts and providing a way to gauge how well businesses are doing. Its role is vital because it offers liquidity and transparency, making it easier for investors to buy and sell investments confidently.

continued listing standards regulatory

"which is required for continued listing on the NYSE"

Ongoing rules a stock exchange requires a listed company to meet to keep its shares trading publicly, such as minimum share price, market value, timely financial reports, and governance practices. Think of it as a membership checklist for a club: falling short can lead to warnings or removal from the exchange, which can sharply reduce liquidity, investor confidence, and a stock’s value. Investors watch these standards to gauge regulatory risk and the stability of their holdings.

reverse stock split financial

"authorized ... to complete a reverse stock split with respect to the common stock"

A reverse stock split is when a company reduces the number of its shares outstanding, making each share more valuable. For example, if you own 100 shares worth $1 each, a 1-for-10 reverse split would turn your 100 shares into 10 shares worth $10 each. Companies often do this to boost their stock price and appear more stable to investors.

AI-generated analysis. Not financial advice.

Management remains focused on multi-year business transformation, including its fleet transition, efficiency, productivity and overhead cost reduction efforts, and leveraging its partnership with Delta Air Lines to deliver premium solutions for every customer journey

ATLANTA, Dec. 19, 2025 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) ("Wheels Up") today announced that it received a notice from the New York Stock Exchange ("NYSE") on December 17, 2025 stating that the average closing price per share of its common stock did not equal at least $1.00 over a consecutive 30 trading-day period, which is required for continued listing on the NYSE.

Wheels Up remains committed to execution of its multi-year business transformation, including advancing its fleet transition to Bombardier Challenger 300 series and Embraer Phenom 300 series jets, its previously announced efficiency, productivity and overhead cost reduction actions expected to deliver approximately $70 million of annualized run-rate cost savings upon completion beginning in mid-2026, and leveraging its first-of-its-kind partnership with Delta to deliver premium solutions for every customer journey. Receipt of the NYSE notice does not affect Wheels Up's plans to execute its strategic initiatives, its objective to build a resilient business model to support sustainable future profitability, or its ability to serve its members and customers.

The NYSE's notice has no immediate effect on the listing of Wheels Up's common stock on the NYSE, which will continue to be listed and trade on the NYSE under the symbol "UP", subject to Wheels Up's compliance with the other NYSE continued listing standards. Wheels Up has six months from receipt of the NYSE's notice to regain compliance with the minimum share price requirement and may consider various available options to regain compliance. Wheels Up's stockholders previously authorized Wheels Up's Board of Directors to complete a reverse stock split with respect to the common stock any time prior to the company's 2026 annual meeting of stockholders, subject to certain conditions. Unless Wheels Up otherwise regains compliance with the minimum price requirement through other available methods, it intends to regain compliance with the NYSE's listing standards by completing a reverse stock split with sufficient time before the end of the six-month cure period to cure the noted deficiency. Any potential reverse stock split would require the approval of the Board of Directors and be publicly announced by the company following any such approval. The Board of Directors has not approved a reverse stock split as of the date of this press release.

About Wheels Up

Wheels Up is a leading provider of on-demand private aviation in the U.S. with a large, diverse fleet and a global network of safety-vetted charter operators, all committed to safety and service. Customers access charter and membership programs and commercial travel benefits through a strategic partnership with Delta Air Lines. Wheels Up also provides cargo services to a range of clients, including individuals and government organizations. With the Wheels Up app and website, members can easily search, book, and fly. For more information, visit www.wheelsup.com. 

Cautionary Note Regarding Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside of the control of Wheels Up. These forward-looking statements include, but are not limited to, statements regarding: (i) the impact of the noncompliance notice received by Wheels Up from the NYSE on December 17, 2025 described in this press release (the "Notice") and any potential reverse stock split (the "Potential Reverse Split") with respect to Wheels Up's Class A common stock, $0.0001 par value per share ("Common Stock"), on its business, results of operations, financial condition, and the trading prices, liquidity, trading volume, volatility and marketability of the Common Stock; (ii) Wheels Up's ability to cure compliance with Section 802.01C of the NYSE Listed Company Manual ("Section 802.01C"), including by effecting the Potential Reverse Split with respect to the Common Stock or any other action intended to cure compliance with Section 802.01C, or at all; (iii) the availability or success of other options that the Company may undertake that are intended to cure compliance with Section 802.01C; (iv) Wheels Up's ability to maintain compliance with the other requirements of the NYSE's continued listing standards; (v) public perception of the Potential Reverse Split with respect to the Common Stock in light of Wheels Up's past reverse stock split and the history of reverse stock splits for other companies, and the potential impacts on the trading market or price of the Common Stock; and (vi) the likelihood that the Potential Reverse Split with respect to the Common Stock or other action that Wheels Up may take with the intent to regain compliance with Section 802.01C will result in any permanent increase in the trading price per share of Common Stock. The words "anticipate," "believe," "can," "continue," "could," "estimate," "expect," "future," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in Wheels Up's Annual Report on Form 10-K for the year ended December 31, 2024 filed with the U.S. Securities and Exchange Commission ("SEC") on March 11, 2025 and its other filings with the SEC from time to time. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Wheels Up does not intend to update any of these forward-looking statements after the date of this press release.

Contacts
Investors:
ir@wheelsup.com

Media:
press@wheelsup.com

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SOURCE Wheels Up

FAQ

What did Wheels Up (UP) disclose about NYSE continued listing on December 19, 2025?

Wheels Up disclosed it received a NYSE notice that its 30‑trading‑day average closing price was below $1.00 and that it has six months to regain compliance.

How does Wheels Up plan to regain NYSE compliance for UP stock?

Wheels Up may consider various options and intends to use a reverse stock split unless it regains compliance by other means; any split requires board approval.

What cost savings did Wheels Up report and when will they begin?

Wheels Up expects approximately $70 million of annualized run‑rate cost savings upon completion, beginning in mid‑2026.

Will Wheels Up (UP) stop trading after the NYSE notice?

No; the NYSE notice has no immediate effect on listing and Wheels Up common stock will continue to trade under the symbol UP while the company seeks compliance.

Has Wheels Up approved a reverse stock split to cure the NYSE price deficiency?

No; stockholders previously authorized the board to complete a reverse split before the 2026 annual meeting, but the board has not approved any reverse split as of the press release date.