Aug 11 (Reuters) - Private jet company Wheels Up Experience is in talks with lenders about a debt restructuring while exploring other options to avoid bankruptcy, the Wall Street Journal reported on Friday. Wheels Up, Bain Capital and MSD Capital did not immediately respond to a request for comment on the report. The New York-based company on Wednesday said there was "substantial doubt" about its ability to continue operations, even as it disclosed short-term funding from Delta Air Lines . Delta said in a statement that it was providing a short-term capital infusion in the form of a secured promissory note to Wheels Up, which is pursuing strategic partnerships. Wheels Up has taken a slew of restructuring measures this year including job cuts and management changes as private jet traffic, which soared on demand from wealthy travelers during the pandemic, has slowed.

Source: Wall Street Journal August 12, 2023 07:07 UTC