Wheels Up Experience

Wheels Up Experience, Inc. is a provider of private aviation services in the U.S. through a fleet of owned, managed, and third-party planes. The company was founded by Kenneth Dichter in August 2013 and is headquartered in New York, NY.

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Wheels Up Experience reports operational excellence and charter growth amidst challenges

Wheels Up Experience showcased operational excellence and profitability in charter business amidst revenue challenges.
Strategic shifts towards profitable charter flying and corporate block sales growth aim to drive asset utilization and profitability.
Despite revenue decline, the company's focus on operational efficiency and infrastructure development signals a commitment to long-term growth.
Maintaining liquidity and optimizing the business model are key priorities to navigate challenges and capitalize on growth opportunities.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Wheels Up Experience, Inc. is a provider of private aviation services in the U.S. through a fleet of owned, managed, and third-party planes. The company was founded by Kenneth Dichter on August 1, 2013 and is headquartered in Chamblee, GA.

Greer to lead Wheels Up's investor relations strategy as well as the development and implementation of company's sustainability strategy ATLANTA , Nov. 19, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), a global leader in private aviation, today announced the appointment of Jill Greer as Executive Vice President, Investor Relations and Sustainability. Jill brings over two decades of experience in aviation and strong financial leadership to the role, having spent 21 years working at Delta Air Lines.

Wheels Up Names Jill Greer as Executive Vice President, Investor Relations and Sustainability

New Bank of America-led facility, with Delta Air Lines credit support, provides growth flexibility as Wheels Up expands its fleet with GrandView Aviation assets to enhance customer experience ATLANTA , Nov. 14, 2024 /PRNewswire/ -- On November 13, 2024, Wheels Up Experience Inc. (NYSE: UP ) closed its new $332 million revolving equipment notes facility with Bank of America, and completed the acquisition of GrandView Aviation's fleet of 17 Embraer Phenom 300 and Phenom 300E aircraft, and related maintenance assets and customer programs. The closings mark a major step forward for Wheels Up's strategic growth goals, aimed at delivering an elevated and reliable experience for its customers.

Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series Aircraft

Wheels Up Experience Inc. (NYSE:UP ) Q3 2024 Results Conference Call November 7, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Eric Cabezas - Interim Chief Financial Officer Operator Welcome to Wheels Up's Third Quarter 2024 Earnings Conference Webcast. It is my pleasure to introduce Keith Ferguson.

Wheels Up Experience Inc. (UP) Q3 2024 Earnings Call Transcript

Improvement in financial performance driven by operating initiatives over past year Fleet modernization plan represents next phase of strategic journey to profitability  New credit facility expected to strengthen balance sheet; credit support from Delta Air Lines underscores commitment to strategic partnership ATLANTA , Nov. 7, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the third quarter, which ended September 30, 2024. Third Quarter 2024 Highlights 1 Revenue was $194 million, stabilizing at levels consistent with the first and second quarters of 2024, though down year over year due primarily to the sale of non-core businesses and focus on profitable flying Adjusted Contribution Margin was 14.8%, the highest as a public company, and an increase of 380 basis points year over year and 700 basis points sequentially Net loss was $58 million for the quarter, an improvement of $87 million year over year and $39 million sequentially Adjusted EBITDA loss was $20 million, an improvement of $17 million sequentially and slightly worse year over year on lower revenues Net cash used in operating activities improved to an outflow of $15 million, a 94% improvement versus $250 million last year "After seven consecutive quarters of revenue contraction leading into 2024, the intentional improvements we have made to our business over the last year have stabilized our top line, expanded margins to record levels, and positioned us for growth," said George Mattson, Chief Executive Officer.

Wheels Up Reports Third Quarter Results

Wheels Up to transition its current jet fleets to Phenom 300 Series and Challenger 300 Series aircraft Entered into agreement to acquire GrandView Aviation's entire fleet of  17 Phenom 300 and Phenom 300E aircraft Entered into agreement to sell entire owned fleet of super mid Citation X aircraft and lease for a limited period in preparation for transition to Challenger fleet New fleet to be outfitted with best-in-class Gogo Galileo HDX satellite-based WiFi Committed financing to be provided by Bank of America, with credit support from Delta Air Lines ATLANTA , Oct. 22, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced a series of major aircraft, commercial and financing transactions that lay the foundation for the company's fleet modernization strategy. Upon closing, the transactions will initiate the transition of Wheels Up's four existing jet aircraft types to two of the most preferred and successful aircraft types in the industry – Embraer's Phenom 300 and Phenom 300E aircraft and Bombardier's Challenger 300 and Challenger 350 aircraft.

Wheels Up Announces Fleet Modernization Strategy and Associated Transactions

ATLANTA , Oct. 17, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will release its third quarter 2024 financial results on Thursday, November 7, 2024. Management will provide a review of the quarter and business update in prepared remarks during a webcast at 10 am ET.

Wheels Up Announces Date of Third Quarter 2024 Earnings Release and Webcast

Wells to lead Wheels Up's enterprise planning, fleet and corporate strategy, corporate development and commercial partnerships, leveraging her years of industry experience ATLANTA , Oct. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced Meaghan Wells as its new EVP of Enterprise Planning and Strategy, to lead the development of the company's long-term growth strategy and further cement Wheels Up's position as a leader in global aviation solutions. Wells has a dynamic background and experience, specializing in driving growth and securing capital for rapidly scaling organizations.

Wheels Up Appoints Meaghan Wells as EVP of Enterprise Planning and Strategy

Approximately 97.2% of lead investor shares will remain subject to the lock-up restriction until September 20, 2025 ATLANTA , Sept. 23, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that lead investors, Delta Air Lines, Inc., CK Wheels LLC, and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional year, until September 20, 2025.

Wheels Up Announces Investors Agree to One-Year Lock-Up Extension

Chief Financial Officer Todd Smith and Chief Legal Officer Laura Heltebran to depart Matthew Knopf to join as Chief Legal Officer and Secretary, with Eric Cabezas acting as interim Chief Financial Officer ATLANTA , Aug. 21, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced two transitions on its executive leadership team, as Chief Financial Officer Todd Smith will be leaving the company for a new role, and Chief Legal Officer Laura Heltebran will be departing to pursue other opportunities. Starting September 9, Matthew Knopf will be joining Wheels Up as Chief Legal Officer and Secretary, with Eric Cabezas acting as interim Chief Financial Officer while a search is conducted for Smith's replacement.

Wheels Up Announces Executive Leadership Transitions

Shares of Wheels Up erased recent gains after reporting Q2 results. The company has simplified its customer offering, while also adding new flier perks with Delta that may help to turn around membership trends. Margins have improved and losses are slimming as the company focuses its flight routes on a more profitable core, which better utilizes its maintenance and repair facilities.

Wheels Up Experience: High Risk, High Reward; Catalysts Are In Place For Rebound (Rating Upgrade)

Wheels Up Experience Inc. (NYSE:UP ) Q2 2024 Earnings Call August 8, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Todd Smith - Chief Financial Officer Operator Hello, everyone, and welcome to today's Wheels Up Second Quarter 2024 Earnings Webcast. I will now hand the line over to Keith Ferguson to begin.

Wheels Up Experience Inc. (UP) Q2 2024 Earnings Call Transcript

Veteran Leader Brings Deep Strategic, Aviation, and Governance Experience to Boardroom ATLANTA , Aug. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that Gregory L. Summe, Managing Partner of Glen Capital Partners LLC, joined its Board of Directors, effective August 7.

Wheels Up Announces Gregory Summe to Join Board of Directors

Strong operational performance and increased efficiencies contribute to sequential margin and profitability improvement  ATLANTA , Aug. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced financial results for the second quarter, which ended June 30, 2024. Second Quarter 2024 Highlights Revenue decreased to $196 million, driven by the divestiture of non-core assets and our focus on more profitable flying Adjusted Contribution Margin increased year over year to 7.8% Net loss improved year-over-year to $97 million Adjusted EBITDA improved year-over-year to a loss of $37 million "Over the past year, we've taken vital steps towards realizing our vision of building Wheels Up into a true innovator in private aviation.

Wheels Up Reports Second Quarter Results

Wheels Up's industry-leading mobile app and website will allow travelers to effectively explore dynamic rates across dates and routes while tracking savings and loyalty progress NEW YORK , July 23, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), a global leader in private aviation, is pleased to announce further updates to its recently streamlined product portfolio. As of today, the company's enhanced mobile app and website will provide increased transparency, further solidifying Wheels Up as the most accessible way to fly private.

Wheels Up Introduces Further Pricing, Savings, and Rewards Transparency Designed to Drive Value and Increase Flexibility for Travelers

NEW YORK , July 18, 2024 / PRNewswire / -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will release its second quarter 2024 financial results on Thursday, August 8, 2024. Management will provide a review of the quarter and business update in prepared remarks during a webcast at 10 am ET.

Wheels Up Announces Date of Second Quarter 2024 Earnings Release and Webcast

Member benefits expanded to offer enhanced Delta loyalty rewards as well as guaranteed availability and recovery within the U.S., U.K. and Europe Updated portfolio introduces the first-ever charter program offering private flight credit and commercial airline benefits NEW YORK , June 17, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the first company in the industry that provides seamless global aviation solutions across private and commercial travel, today announced a streamlined product portfolio. Working with strategic partner Delta Air Lines, America's most awarded airline, Wheels Up can now provide an even greater level of flexibility to meet the needs of today's most discerning travelers.

Wheels Up Announces Streamlined Product Portfolio, Providing Global Access Through Options for Membership and Charter

Wheels Up Experience Inc. (NYSE:UP ) Q1 2024 Earnings Conference Call May 9, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Todd Smith - Chief Financial Officer Conference Call Participants Operator Welcome to the Wheels Up First Quarter 2024 Webcast. It is my pleasure to introduce Keith Ferguson with Wheels Up.

Wheels Up Experience Inc. (UP) Q1 2024 Earnings Call Transcript

Delivering continued operational performance improvements Positioned for long-term profitable growth NEW YORK , May 9, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced financial results for the first quarter, which ended March 31, 2024. First Quarter 2024 Highlights Total Revenue decreased $155 million year-over-year to $197 million, nearly half of which was due to exiting the aircraft management and aircraft sale businesses Adjusted Contribution decreased $4 million year-over-year to $2 million Net loss improved slightly year-over-year to $97 million Adjusted EBITDA was relatively flat year-over-year at a loss of $49 million "Wheels Up has made great strides to improve our operations and consistently deliver exceptional service and an experience worth repeating for our customers," said George Mattson, Chief Executive Officer.

Wheels Up Reports First Quarter Results

Harvey to lead integration of Wheels Up's commercial functions, driving profitable business growth and further increasing market penetration NEW YORK , May 6, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced Dave Harvey as its new Chief Commercial Officer, leading the company's commercial strategy and further strengthening Wheels Up's position at the forefront of the premium aviation industry.   Harvey brings 25 years of experience spanning multiple disciplines to the role.

Wheels Up Appoints Dave Harvey as Chief Commercial Officer

NEW YORK , April 23, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will release its first quarter 2024 financial results on Thursday, May 9, 2024. Management will provide a review of the quarter and business update in prepared remarks during a webcast at 10 am ET.

Wheels Up Announces Date of First Quarter 2024 Earnings Release and Webcast

Resource reallocation to areas of high flight demand to further drive operating and  cost efficiencies while continuing to elevate the member experience Wheels Up to partner with top external MRO providers to support hiring for  affected employees in exited Cincinnati and Broomfield, Colorado facilities NEW YORK , April 18, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced a significant step toward becoming the best-run private aviation company with the forthcoming opening of a new, state-of-the-art maintenance facility at Palm Beach International Airport (PBI). Due to open this year, the facility at PBI represents a strategic shift in the allocation of the company's maintenance facilities, with an end goal of better aligning resources to the company's geographic network and flight demand density.

Wheels Up to Open State-of-the-Art Maintenance Facility at Palm Beach International Airport

Certares Executive Brings Global Strategic Focus and Deep Aviation, Travel and Hospitality Background NEW YORK , March 7, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that Tom Klein, Senior Managing Director of Certares Management LLC ("Certares"), joined its Board of Directors, effective March 1. Mr. Klein fills the unexpired term of former Certares executive Jeffrey Nedelman, who is stepping down to focus on other commitments.

Wheels Up Announces Tom Klein to Join Board of Directors

Wheels Up Experience Inc. (NYSE:UP ) Q4 2023 Earnings Conference Call March 7, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Todd Smith - Chief Financial Officer Operator Welcome to the Wheels Up Fourth Quarter 2023 Earnings Conference Call Webcast. It is my pleasure to introduce Keith Ferguson.

Wheels Up Experience Inc. (UP) Q4 2023 Earnings Call Transcript

Operational improvements and strategic repositioning continue to progress Cash balance up sequentially from third quarter NEW YORK , March 7, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the fourth quarter, which ended December 31, 2023. Fourth Quarter 2023 Highlights Total Revenue decreased $162 million year-over-year to $246 million, partially due to the divestiture of the Aircraft Management business Adjusted Contribution decreased $16 million year-over-year to $3 million Net loss decreased year-over-year to $81 million, due primarily to the absence of a goodwill impairment charge in the current quarter Adjusted EBITDA improved $6 million year-over-year to a loss of $38 million "In our first full quarter since the strategic investment, we have made strong progress on a number of key fronts.

Wheels Up Reports Fourth Quarter Results

Canadian National Railway Company

Canadian Pacific Kansas City Limited

Norfolk Southern

Warren Buffett lamented two of his largest investments in this year's annual letter. The admission was somewhat shocking, given that these businesses make up significant portions of Berkshire's operating earnings.

News for Wheels Up Experience Stock (UP)