Wheels Up Experience has regained compliance with the New York Stock Exchange’s continued listing requirements after resolving a minimum share price deficiency. The NYSE confirmed on June 2 that Wheels Up’s stock closed at or above $1 per share for 30 consecutive trading days, restoring the company’s eligibility under Section 802.01C of the NYSE Listed Company Manual.
“We are pleased that in just over a month since receiving a continued listing standard notice, we have regained full compliance with NYSE listing standards through market-driven stock appreciation,” said Wheels Up CEO George Mattson. “This milestone reflects growing investor confidence in our continued progress in executing our business transformation and long-term strategy.”
Mattson also pointed to the company’s $1 billion market capitalization as an indication of investor support. He added that the company’s focus remains on building sustainable profitability and delivering premium service to its customers.
The NYSE had notified Wheels Up of its noncompliance in April, when the company’s stock price fell below the $1 threshold required for continued listing. Now that it has meet the threshold, Wheels Up’s shares will continue trading on the NYSE, subject to ongoing compliance with all applicable listing requirements. The company said it remains committed to its operational turnaround and to enhancing shareholder and customer value.