Wheels Up names Delta board member Mattson as CEO

Wheels Up app

Delta Air Lines Board Member George Mattson becomes Wheels Up’s new CEO following the appointment of Delta CFO Dan Janki as Chairman of the private jet flight provider

Wheels Up today announced George N. Mattson as its new Chief Executive Officer. It comes after announcing an ownership agreement with Delta Air Lines, Certares Management LLC, and Knighthead Capital Management LLC on Aug. 15, a deal that is expected to close subject to customary conditions and approvals.

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: Q3 revenue up 39%, losses continue, and a top exec leaves

Wheels Up

Wheels Up’s 2022 Q3 revenues increased to $420 million, net loss jumped to $86 million, and Vinayak Hegde exits the #2 spot

Quarterly earnings calls for Wheels Up are becoming consistent: Big revenue growth, big losses, and top executive departures.

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