August 20, 2025
Wheels Up will release its Q2 2025 results on August 7, 2025 as it seeks to continue its turnaround under the backing of Delta Air Lines.
Wheels Up Experience Inc. announced this morning its release date for the second quarter financial results.
The release will come on Thursday, August 7, 2025.
The Delta Air Lines-backed private jet flight provider includes charter broker Air Partner.
Wheels Up executives said Q1 results reflected its move to a more balanced business model.
In terms of the Q1 2025 Wheels Up financials:
However, CEO George Mattson said the top-line numbers didn’t necessarily tell the entire story.
Completion Rate (97%) and On-Time Performance (85%) stayed within their improved operational performance during the past 18 months.
Survival is no longer the question of the day.
There were quite a few positives.
The company ended the quarter with approximately $272 million of total liquidity, $171.8 million of cash and cash equivalents, and a $100 million undrawn revolving credit facility.
On April 30, 2025, it agreed with Delta Air Lines to extend the $100 million revolving credit facility to remain available through September 20, 2026.
The Gross Loss in Q1 2025 was $1.1 million, a $15.5 million improvement over Q1 2024.
Adjusted Contribution was $22.4 million, a margin of 12.6%.
That was up 12 percentage points year over year.
Total Gross Bookings were up 8% to $241.9 million in the quarter.
Private Jet Gross Bookings increased 7% to $205.3 million.
Total Gross Bookings are the total gross spent by members and customers on all private jet flight services under its member programs and charter offerings, all group charter flights (charter flights with over 14 passengers), and cargo charter flight services
Private Jet Gross Bookings are the total gross spend by members and customers on all private jet flight services via its member programs and charter offerings, excluding Group Charter Flights and Cargo Services.
Gross Bookings reflect the total booking value of third-party charter flights, reflecting the company’s focus on building its Air Partner brokers.
The $177.5 million in Q1 revenue reported in its financials only accounts for the net between what the customer paid for the flight and what Wheels Up paid to the operator for its charter business.
Since Wheels Up reported Q1 results, it also regained compliance with NYSE listing rules as its stock price jumped back over the one-dollar market.
It closed yesterday at $1.40 with a market cap of $978 million.
It also tapped Delta for a sustainable fuel supply and a promotion where Wheels Up members could earn one million SkyMiles.
Delta CEO Ed Bastian told CNBC the private jet company is making “meaningful progress” earlier this month.
It also continued its fleet modernization with more Challenger 300s.
There were several key executive moves.
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