Originally Posted by
AirBear
Be extremely careful about Wheels Up, especially if they have a training contract. Their financials have been teetering on the edge for quite a while now. Delta is bailing them out so far because they have a huge liability if WU ceases operations.
My big concern revolves around a training contract, if they have one. What happens if they file Chapter 11 and slash pilot pay? Are you still stuck with the training contract?
If no contract then by all means grab the type rating and hope for the best.
If any company goes into bankruptcy then that doesn’t bode well for anyone. Any aviation company is always teetering on the edge, some more than others, tough business. WUP had a rough stretch as they expanded pretty quickly and purchased a few companies. They are making corrections and figuring it out. It’s not the doom and gloom everyone thinks. To answer the contract question, yes there is for one year but you can buy yourself out at a prorated price. It’s not that bad. Also, most people do not have a contract with Wheels Up, but with one of the companies that they had purchased. And the contract is with that company, not with Wheels Up. Until just a couple years ago, Wheels Up didn’t actually own any aircraft.