Wheels Up Announces Fleet Modernization Updates: Gogo Galileo HDX Install and New Sale-Leaseback Options
Wheels Up (Wheels Up Experience Inc.) has announced two significant milestones advancing its fleet modernization strategy planned to continue through 2026.
These milestones involved commencing a sale-leaseback for its Challenger and Phenom Fleets and equipping the company’s first Phenom with Gogo Galileo HDX satellite Wi-Fi.
The sale-leaseback agreement covers 10 aircraft—three Challenger 300s and seven Phenom 300s—and ensures that Wheels Up will keep operating them without disrupting customer access.
The sale price is estimated to be around $105 million. Wheels Up shared plans to use the proceeds to repay outstanding debt of nearly $65 million under its revolving equipment notes facility. $40 million of the cash net proceeds will go to the company’s balance sheet, hopefully increasing support for the company’s 2026 acquisitions.
The Challenger and Phenom aircraft involved in the transaction will also receive upgrades like:
- Painting
- Branding
- Refurbishing
- Installing HDX satellite Wi-Fi
"The actions we are announcing today reflect disciplined, intentional execution of our transformation strategy," said George Mattson, chief executive officer of Wheels Up.
Mattson added, "The sale-leaseback agreement further validates our strategy via the partnership of a sophisticated financial institution, balances our mix of owned and leased aircraft, and supports recent and future sustainable growth by providing additional capacity to continue executing our fleet plan in 2026."
The company has also achieved entry-into-service for its first Phenom 300 with the Gogo Galileo HDX satellite Wi-Fi system installed. This added features to the aircraft’s connectivity like:
- Global coverage
- Low latency
- High bandwidth
- Live streaming and voice calling support
"Both corporate and leisure private aviation travelers expect high speed, seamless connectivity wherever they fly," said Mattson.
He continued, "Following FAA approval of the HDX system on the Phenom, we are delighted that Wheels Up's first Galileo HDX-equipped aircraft has entered service. We expect to deliver our first HDX-equipped Challenger aircraft early in 2026 and to move quickly to convert our Phenom and Challenger fleets throughout the year."