Wheels Up financials Archives

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

March 9, 2023March 10, 2023by Doug Gollan1 Comment

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.

Continue reading “Wheels Up: 2022 Q4 revenues, loss increase, and what’s next?”

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

March 1, 2023March 1, 2023by Doug Gollan1 Comment

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.

Continue reading “Wheels Up plans $30 million in savings via non-operational headcount reduction”

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

November 9, 2022November 10, 2022by Doug Gollan5 Comments

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.

Continue reading “Wheels Up: Q3 revenue up 39%, losses continue, and a top exec leaves”

Wheels Up nets $259 million via sale and issuance of equipment notes

October 17, 2022October 16, 2022by Doug Gollan

Proceeds will support Wheels Up’s investments in operations, technology, and member experience as it focuses on reaching positive adjusted EBITDA in 2024

Wheels Up Experience Inc. starts the NBAA-BACE conference here in Orlando with the first major announcement of the week.

Continue reading “Wheels Up nets $259 million via sale and issuance of equipment notes”

Tag: Wheels Up financials

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

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

Like this:

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

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

Like this:

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

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

Like this:

Wheels Up nets $259 million via sale and issuance of equipment notes

Proceeds will support Wheels Up’s investments in operations, technology, and member experience as it focuses on reaching positive adjusted EBITDA in 2024

Like this:

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

Share this:

Like this:

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

Share this:

Like this:

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

Share this:

Like this:

Proceeds will support Wheels Up’s investments in operations, technology, and member experience as it focuses on reaching positive adjusted EBITDA in 2024

Share this:

Like this: