LAS VEGAS—Wheels Up, a membership-based private aircraft company, says a new round of funding it recently secured will help it grow more quickly and acquire aircraft faster. Wheels Up closed an equity-based fundraising round of $117.5 million in October, and says it has an enterprise value of $1 billion. Fidelity Management and Research Co. and investments manage by T. Rowe Price Associates led the latest round. Four years from now? “I think we can be a $5-10 billion ...

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