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As Wheels Up posted record revenues and another significant loss, executives say program changes made earlier this year are paying off.
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.
Delta Air Lines, a major investor in Wheels Up Experience after selling Delta Private Jets to the company in a 2019 deal, has switched its representative on the private jet company’s Board of directors.
Super Bowl week is a cornerstone event for Wheels Up’s hospitality focus, and this year will be no different as the Big Game goes to Los Angeles.
