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.
The approval by Aspirational Consumer of its Wheels Up merger puts the private jet company closer to trading on the New York Stock Exchange
Aspirational Consumer Lifestyle Corp. (“Aspirational”) (NYSE: ASPL), a special purpose acquisition company, today announced that its shareholders have voted to approve the previously announced business combination with Wheels Up Partners Holdings LLC.
As Wheels Up continues its push to digitalize and democratize the industry, Chief Marketplace Officer Vinayak Hegde lays out a vision of what’s ahead
Wheels Up is continuing to add to its all-star executive line-up. As it prepares to become a publicly traded company, the New York-based private aviation services provider has plucked alumni of GE, Airbnb, Amazon, Hilton, NetJets, Grey Goose, and the Air Force. The latest addition, Vinayak Hegde as chief marketplace officer, brings more digital marketplace and public company experience.
The value of Delta Air Lines’ stake in Wheels Up increased to $520 million from $210 million, surpassing its 13% holding in Korean Air
Delta Air Lines’ decision to sell Delta Private Jets has yielded a huge gain on paper. It’s up over 100% just since the fourth quarter. In its latest 10-Q filing, the Atlanta-based airline increased the carrying value of its 24% interest in Wheels Up to $520 million. That makes the New York-based private aviation company its largest equity ownership stake.