Wheels Up added to Russell 3000 and 2000 indexes

Wheels Up and flyExclusive both reported their results this week. They were different but both upbeat.

Wheels Up Experience has been added to the Russell 3000 and Russell 2000 indexes, effective June 29.

“We are pleased to have been added to these important and closely followed market indexes, as we continue to make rapid progress in our business transformation since the Delta Air Lines led investment into Wheels Up,” said George Mattson, CEO of Wheels Up.

“With our fleet modernisation complete, record operational performance, accelerating commercial momentum and the continued backing of our primary investors, we believe we are well-positioned to deliver long-term value to our shareholders and customers.”

Inclusion in the Russell indexes carries practical significance for publicly traded companies. Approximately $12.2tr in assets are benchmarked against Russell US indexes, meaning index funds and institutional investors that track these benchmarks will automatically hold Wheels Up shares.

Membership is determined by FTSE Russell based on market capitalisation rankings and style attributes.

The addition comes as Wheels Up continues to rebuild following a period of significant financial difficulty. Delta Air Lines led a rescue investment into the company in 2023, with Wheels Up subsequently undertaking a fleet modernisation and operational overhaul under Mattson’s leadership.

The Russell 2000 tracks smaller-cap US companies while the Russell 3000 covers the broader market. Both are among the most widely followed equity benchmarks in the United States.