Wheels Up stock ticker Archives

Wheels Up increases revenue outlook as losses mount

May 12, 2022May 15, 2022by Doug Gollan

Q1 revenues for Wheels Up increased 24% to $325 million as adjusted EBITDA loss jumped to $49.4 million year-over-year

The story continues with Wheels Up. Revenues were up. Flying was up. Sales of funded accounts were up. And so were expenses, so the losses increased.

Continue reading “Wheels Up increases revenue outlook as losses mount”

Wheels Up gets a Buy rating from Jefferies

April 21, 2022April 21, 2022by Doug Gollan

Jefferies reinstates Wheels Up coverage by increasing estimated revenue based on strong demand and prepaid membership blocks

Wheels Up’s lagging stock price received a boost earlier this week when Jefferies reinstated coverage with a Buy rating.

Continue reading “Wheels Up gets a Buy rating from Jefferies”

Wheels Up announces fuel surcharges; outlines operational improvements

March 10, 2022March 10, 2022by Doug Gollan

In its Q4 financial call, Wheels Up announced record sales, losses, and detailed plans to reduce costs, and improve operations as cash grew from $535 million to $785 million

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.

Continue reading “Wheels Up announces fuel surcharges; outlines operational improvements”