Earnings summaries and quarterly performance for Wheels Up Experience.
Executive leadership at Wheels Up Experience.
George Mattson
Detailed
Chief Executive Officer
CEO
AC
Alexander Chatkewitz
Chief Accounting Officer
BK
Brian Kedzior
Chief People Officer
DG
David Godsman
Chief Digital Officer
DH
David Holtz
Chief Operating Officer
JV
John Verkamp
Chief Financial Officer
KL
Kristen Lauria
Chief Marketing Officer
MB
Mark Briffa
Chief Sales Officer
MK
Matthew Knopf
Chief Legal Officer
MW
Meaghan Wells
Chief Growth Officer
Board of directors at Wheels Up Experience.
AC
Adam Cantor
Detailed
Director
AZ
Adam Zirkin
Detailed
Chairperson of the Board
AB
Alain Bellemare
Detailed
Director
AD
Andrew Davis
Detailed
Director
DJ
Daniel Janki
Detailed
Director
DJ
Dwight James
Detailed
Director
GS
Gregory Summe
Detailed
Director
LM
Lee Moak
Detailed
Director
TK
Thomas Klein
Detailed
Director
TA
Timothy Armstrong
Detailed
Director
ZL
Zachary Lazar
Detailed
Director
Research analysts covering Wheels Up Experience.
Recent press releases and 8-K filings for UP.
Wheels Up Experience Reports First-Ever Positive EBITDA and Details Strategic Initiatives
UP
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- Wheels Up Experience reported a positive EBITDA result for the first time in its history, marking a significant turnaround from previously losing over $200 million of EBITDA per year. The company aims to achieve more than $200 million of EBITDA annually within the next couple of years.
- The company's revenue is approximately $1.2 billion annually, split between its membership business, generating around $600 million, and its global charter business, also generating about $600 million in gross revenue.
- Wheels Up is undergoing a fleet modernization, replacing legacy jets with Phenom 300s and Challenger 300s/350s, with 40% of this transition completed and full completion expected by the end of 2026. This transition is expected to improve contribution margins from the current 19% to over 30%.
- The strategic partnership with Delta Air Lines is driving growth, particularly in the corporate sales segment, which has grown at a 25% compound rate over the last two years and was up 35% this quarter.
- In October 2023, Delta, along with three private equity investors, acquired 95% of the company through a $390 million term loan investment, providing liquidity for strategic execution.
Feb 19, 2026, 3:25 PM
Wheels Up Experience Reports First Positive EBITDA, Details Strategic Growth and Fleet Modernization
UP
Earnings
New Projects/Investments
Revenue Acceleration/Inflection
- Wheels Up Experience reported its first positive EBITDA result, marking a significant turnaround from prior annual losses exceeding $200 million of EBITDA, with a long-term target to achieve more than $200 million of EBITDA.
- The company is 40% complete with a fleet modernization program, expected to conclude by the end of 2026, which aims to increase contribution margins to 30%+ and boost fleet utilization from 40 to over 70 revenue hours per month per plane.
- A strategic partnership with Delta Air Lines is driving growth, particularly in the corporate sales segment, which grew 35% this quarter and at a 25% compound rate over the last two years.
- The membership business and the global charter business each contribute approximately $600 million in annual revenues, resulting in a total of $1.2 billion.
Feb 19, 2026, 3:25 PM
Wheels Up Experience Discusses Strategic Evolution and Financial Turnaround at Barclays Conference
UP
Revenue Acceleration/Inflection
New Projects/Investments
Guidance Update
- Wheels Up Experience reported a positive EBITDA result for the first time in its history, marking a significant turnaround from previous annual losses exceeding $200 million. The company aims to achieve over $200 million of EBITDA in the coming years.
- The company is undergoing a fleet modernization, replacing legacy jets with Phenom 300s and Challenger 300s/350s, with completion anticipated by the end of 2026. This transition is expected to contribute to achieving 30%+ contribution margins.
- The membership business generates approximately $600 million in annual revenues, while the global charter business also contributes around $600 million in gross revenue.
- Delta Air Lines and three private equity investors acquired 95% of Wheels Up in October 2023 via a term loan investment, providing liquidity for the company's strategic plan.
Feb 19, 2026, 3:25 PM
Wheels Up Announces Fourth Quarter 2025 Results
UP
Earnings
Guidance Update
New Projects/Investments
- Wheels Up reported a net loss of $29 million for Q4 2025, a 67% year-over-year improvement, and achieved its first-ever positive Adjusted EBITDAR of $37 million.
- Total Revenue for Q4 2025 was $184 million, flat sequentially and down 10% year-over-year, primarily due to discontinued membership programs, lower group charter sales, and the divestiture of non-core services businesses.
- The company achieved record operational reliability in Q4 2025 with a 99% Completion Rate and 91% On-Time Performance, supported by ongoing fleet modernization and cost reduction initiatives.
- The new Signature Membership program has seen over 600 sales since its September launch, with corporate membership fund sales growing 35% year-over-year.
- Quarter-end liquidity was $234 million, comprising $134 million in cash and cash equivalents and an undrawn $100 million revolving credit facility.
Feb 19, 2026, 11:56 AM
Wheels Up Experience Inc. Announces Fourth Quarter 2025 Results
UP
Earnings
Guidance Update
New Projects/Investments
- Wheels Up Experience Inc. reported a net loss of $29 million for the fourth quarter of 2025, representing a 67% year-over-year improvement, and achieved its first-ever positive Adjusted EBITDAR of $37 million.
- Total Revenue for Q4 2025 was $184 million, which was flat sequentially and down 10% year-over-year, reflecting discontinued membership programs, lower group charter sales, and divestiture of non-core services businesses.
- The company ended the quarter with $234 million in liquidity, including $134 million of cash and cash equivalents.
- Operational reliability reached record levels in Q4 2025, with a 99% Completion Rate and 91% On-Time Performance (D-60).
- Wheels Up is advancing its fleet modernization, with premium Phenom and Challenger jets comprising 40% of its controlled fleet, and expects to complete the transition in 2026.
Feb 19, 2026, 11:55 AM
Wheels Up Experience Unifies Brands and Launches New Customer Engagement Model
UP
New Projects/Investments
Product Launch
- On January 27, 2026, Wheels Up Experience Inc. launched a seamless, concierge-level customer engagement model that unifies its full range of customer offerings under a single brand and organizational structure.
- This new integrated commercial model brings together the Wheels Up and Air Partner brands in the U.S. for private jet and group charter services, aiming to provide a single, personalized team for customers.
- The company's goal is to deliver a more streamlined, customer-centric, end-to-end aviation experience by unifying global membership and charter sales teams and customer service functions.
- While all U.S. private jet and group charter services will now operate under the Wheels Up brand, cargo services will continue to operate under the Air Partner brand.
Jan 27, 2026, 1:30 PM
flyExclusive Prices Public Offering, Stock Falls
UP
New Projects/Investments
Dilution
- flyExclusive launched an underwritten public offering on January 8–9, 2026, agreeing to sell 2,255,639 shares at $6.65 each.
- The offering aims to raise approximately $15 million to shore up liquidity and support the expansion of its maintenance and technology services.
- Following the pricing of the offering, flyExclusive's stock fell roughly 14% on January 9, 2026.
- The company's fundamentals are characterized by ongoing losses, negative free cash flow, and negative equity, with the offering adding to dilution risk.
Jan 9, 2026, 12:23 AM
Wheels Up Experience Inc. Announces Fleet Modernization with Sale-Leaseback and Wi-Fi Upgrade
UP
New Projects/Investments
Debt Issuance
- Wheels Up Experience Inc. (UP) announced a strategic sale-leaseback transaction for 10 aircraft (3 Challenger 300s and 7 Phenom 300s).
- The sale is valued at approximately $105 million, expected to generate $39.4 million in net cash proceeds after repaying approximately $65 million of outstanding debt under its revolving equipment notes facility.
- These proceeds and incremental borrowing capacity are anticipated to support the company's planned acquisition of additional Challenger and Phenom aircraft in 2026 as part of its fleet modernization strategy.
- The company also announced that its first Phenom aircraft equipped with Gogo Galileo HDX satellite Wi-Fi has entered service, marking the beginning of a fleet-wide upgrade to next-generation connectivity planned for 2026.
Dec 23, 2025, 1:01 PM
Wheels Up Advances Fleet Modernization with Strategic Sale-Leaseback and Wi-Fi Upgrade
UP
New Projects/Investments
- Wheels Up Experience Inc. has entered into a sale-leaseback transaction for 3 Challenger 300s and 7 Phenom 300s from its fleet.
- The sale generated approximately $105 million in purchase price, with $65 million expected to repay outstanding debt and $40 million as cash net proceeds to the balance sheet.
- These proceeds and unlocked incremental borrowing capacity are anticipated to support planned 2026 acquisitions of additional Challenger and Phenom aircraft, furthering the company's fleet modernization strategy.
- The company also announced that its first Phenom aircraft equipped with Gogo Galileo HDX satellite Wi-Fi has entered service, with the first HDX-equipped Challenger expected early in 2026 and fleet-wide conversion throughout the year.
Dec 23, 2025, 1:00 PM
Wheels Up Receives NYSE Continued Listing Standard Notice
UP
Delisting/Listing Issues
Proxy Vote Outcomes
- Wheels Up Experience Inc. (NYSE: UP) received a notice from the New York Stock Exchange (NYSE) on December 17, 2025, for non-compliance with the minimum average closing price requirement of $1.00 over a 30 trading-day period.
- The company has six months from the notice date to regain compliance with this standard.
- Wheels Up intends to regain compliance, potentially by completing a reverse stock split at a ratio between 1-for-5 and 1-for-20, which was previously authorized by stockholders.
- The notice has no immediate effect on the listing of Wheels Up's common stock, which will continue to trade on the NYSE under the symbol "UP", but with an added ".BC" designation.
Dec 19, 2025, 10:01 PM
Quarterly earnings call transcripts for Wheels Up Experience.
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