Dichter resigns as Wheels Up revamps jet card program; reports Q1 financials

Wheels Up

Wheels Up’s Founder and CEO Kenny Dichter steps down; Core Membership program restructured into East and West zones

Wheels Up Founder, Chairman and CEO Kenny Dichter is stepping down immediately. CFO Todd Smith becomes Interim CEO. Board Member Ravi Thakran becomes Executive Chairman. At the same time, the company is restructuring its capped-rate Core membership program, per a flurry of press releases issued this morning.

Wheels Up: 2022 Q4 revenues, loss increase, and what’s next?

Wheels Up

As Wheels Up completes a year to forget, lower demand may provide the tailwind it needs to achieve its 2024 profitability goal

Increasing expenses continued to plague Wheels Up in 2022 as it recorded record revenues and higher prepaid block sales, countered by growing losses. It also made another executive change and announced discounted pricing on its King Air 350 fleet, a potential sign of things to come.

Wheels Up plans $30 million in savings via non-operational headcount reduction

Wheels Up

Targeting EBITDA profits in 2024, Wheels Up is cutting $30 million in employee costs, excluding pilots, frontline maintenance, and other customer-facing roles

In an email sent this afternoon to employees and a follow-up 8-k filing, Wheels Up said it will cut annual employee expenses by $30 million.

Wheels Up’s Heltebran named to Women Leading Travel & Hospitality

Wheels Up

Wheels Up Experience Chief Legal Officer Laura Heltebran is adding an Advisory Board role at Women Leading Travel & Hospitality to her duties.

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