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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.
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 announced this morning that it will release its fourth quarter 2022 financial results before the market opens on Thursday, March 9, 2023.
For Wheels Up members, the Super Bowl means big celebrity-filled parties and its traditional Rao’s pop-up restaurant.