In its Q4 financial call, Wheels Up announced record sales, losses, and detailed plans to reduce costs, and improve operations as cash grew from $535 million to $785 million
As expected, Wheels Up’s losses in Q4 mounted. However, executives painted a bright picture based on moves that increase efficiency, operational integrity and reduce costs in coming quarters. They also said cash and cash equivalents surged by a quarter billion dollars to $785 million as of December.
Wheels Up is the third-largest operator in North America, based on fractional and charter flight hours.
The freight side of jet card broker Air Partner’s business was so strong last month, its full-year profit will now be materially ahead of the update it provided just three weeks ago
Readers of this website will know Air Partner mostly for its fixed-rate jet card and on-demand passenger private jet charters.
Air Partner expects that annual profit before tax will be materially ahead of current market expectations
Global aviation services group Air Partner says financial year results will be “materially ahead of current market expectations.”
First-half profits for Air Partner slipped to £18.6 million as Group and Freight Charter returned to normal levels
Air Partner’s unaudited results for the first six months of its 2022 financial year revealed a spike in jet card sales. However, that was offset by a return of group and freight charters to “normalized” levels.