Wheels Up Experience Inc. (NYSE:UP) saw a strong performance, with shares rising 11.70% to close at $0.7036 on Wednesday due to ongoing fleet expansion efforts. The company plans to significantly expand its fleet in 2026 as part of its modernization strategy.

To support its fleet expansion plans, Wheels Up entered a $105 million sale-leaseback agreement for three Challenger 300s and seven Phenom 300s. The company will continue to operate the aircraft, ensuring uninterrupted access for customers with added features like HDX satellite Wi-Fi.

CEO George Mattson highlighted the strategic importance of the sale-leaseback agreement, which provides additional capacity for fleet expansion and sustainable growth. The move aims to balance the mix of owned and leased aircraft in the company’s fleet plan for 2026.

Read more at Yahoo Finance: Wheels Up (UP) Powers 11.7% on Fleet Expansion