Wheels Up Experience

Wheels Up Experience, Inc. is a provider of private aviation services in the U.S. through a fleet of owned, managed, and third-party planes. The company was founded by Kenneth Dichter in August 2013 and is headquartered in New York, NY.

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Wheels Up Experience reports operational excellence and charter growth amidst challenges

Wheels Up Experience showcased operational excellence and profitability in charter business amidst revenue challenges.
Strategic shifts towards profitable charter flying and corporate block sales growth aim to drive asset utilization and profitability.
Despite revenue decline, the company's focus on operational efficiency and infrastructure development signals a commitment to long-term growth.
Maintaining liquidity and optimizing the business model are key priorities to navigate challenges and capitalize on growth opportunities.

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Wheels Up Experience, Inc. is a provider of private aviation services in the U.S. through a fleet of owned, managed, and third-party planes. The company was founded by Kenneth Dichter on August 1, 2013 and is headquartered in Chamblee, GA.

Wheels Up Experience Inc. (NYSE:UP ) Q1 2022 Earnings Conference Call May 12, 2022 4:30 PM ET Company Participants Keith Ferguson - Investor Relations Kenneth Dichter - Founder, Chief Executive Officer & Chairman Vinayak Hegde - President Conference Call Participants Operator Hello, and welcome to the Wheels up Experiences First Quarter 2022 Earnings Conference Call. My name is Harry and I'll be your operator today.

Wheels Up Experience Inc. (UP) CEO Kenneth Dichter on Q1 2022 Results - Earnings Call Transcript

Strong demand with prepaid block sales up 153% year-over-year Technology and operating initiatives progressing to drive long-term profitability NEW YORK ,  May 12, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the first quarter, which ended March 31, 2022. First Quarter 2022 Highlights Revenue increased 24% year-over-year to $325.6 million Active Members grew 26% year-over-year to 12,424 in total Live Flight Legs increased 15% year-over-year to 17,626 in total Net loss increased by $56.8 million year-over-year to a net loss of $89.0 million Adjusted EBITDA decreased by $40.8 million year-over-year to a loss of $49.4 million "The record first quarter revenue is a testament to the company's unique market position and iconic brand as an innovator in a supply-constrained market.

Wheels Up Announces Record Revenue for First Quarter 2022

NEW YORK , April 27, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced that Kenny Dichter, chairman & CEO; Vinayak Hegde, president, and Eric Jacobs, chief financial officer will present virtually at the 17th Annual Needham Technology & Media Conference on Monday, May 16, 2022 at 11 a.m., ET. The event will be webcast live and can be accessed via the Events & Presentations page of our Investor Relations website.

Wheels Up to Participate in 17th Annual Needham Technology & Media Conference

NEW YORK , April 19, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced that it will release its first quarter 2022 financial results after the market closes on Thursday, May 12, 2022. Management will host a conference call at 4:30 pm ET to discuss the results.

Wheels Up Announces Date of First Quarter 2022 Earnings Release and Conference Call

Wheels Up Experience Inc. ( UP , Financial) is a relatively unknown small-cap aviation company that has been public for less than a year. The company is a provider of private aviation services in the U.S. through a fleet of owned, managed and third-party planes.

Wheels Up Experience: This Busted SPAC Looks Attractive

Acquisition accelerates Wheels Up's global expansion, expands product portfolio and suite of services  All Cash Deal Expected to be Accretive to Adjusted Contribution Margin and Adjusted EBITDA NEW YORK and LONDON , April 1, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced it has officially closed its acquisition of Air Partner plc, a U.K.-based global aviation services group with operations in 18 locations and four continents. Under the terms of the transaction, and following stockholder and regulatory approval, Wheels Up has acquired the entire issued share capital of Air Partner for 125 pence per share, equivalent to an enterprise value of approximately $109 million.

Wheels Up Officially Closes Acquisition of Air Partner plc

Strategic partnership and minority investment expands travel options for Wheels Up members and supports Tropic Ocean's continued growth and expansion NEW YORK , March 30, 2022 /PRNewswire/ -- Wheel Up Experience (NYSE: UP) today announced a new strategic partnership and minority investment in Tropic Ocean Airways, the world's largest amphibious airline and leading provider of last-mile private charter and scheduled service in Florida, the Northeastern United States, the Bahamas, the Caribbean and beyond. The multiyear commercial agreement is the latest step by Wheels Up in its efforts to expand the addressable market for its product offerings and offer a seamless first- to last-mile travel solution for its members and customers.

Wheels Up Partners with Tropic Ocean Airways to Add Last-Mile Travel Options and Deliver Shorter Range, Unique Travel Offerings

Wheels Up Experience Inc. (UP) CEO Kenneth Dichter on Q4 2021 Results - Earnings Call Transcript

NEW YORK, March 10, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the fourth quarter, which ended December 31, 2021. Fourth Quarter 2021 Highlights Revenue increased 64% year-over-year to $345 million Active Members grew 31% year-over-year to 12,040 in total Live Flight Legs increased 63% year-over-year to 20,296 in total Net loss increased by $42 million year-over-year to a loss of $77 million Adjusted EBITDA decreased by $35 million year-over-year to a loss of $46 million "I am pleased to report another quarter of record revenue, strong membership growth and retention, along with the best quarter in our history for prepaid block sales, which grew more than 80% to $540 million in the fourth quarter.

Wheels Up Announces Record Revenue for Fourth Quarter 2021

NEW YORK , March 10, 2022 /PRNewswire/ -- Wheels Up Experience (NYSE: UP) today announced that long-time Delta Air Lines senior executive Dave Holtz has joined the company as its Chairman of Operations. In this newly created role, Holtz will spearhead the creation of an industry-leading Member and Operations Center that will deliver best-in-class service for Wheels Up members and customers.

Wheels Up Adds Aviation Veteran Dave Holtz as Chairman of Operations

NEW YORK, Feb. 28, 2022 /PRNewswire/ -- Wheels Up (NYSE: UP), the leading brand in private aviation, today announced that Delta Air Lines Senior Vice President Dwight James has joined its Board of Directors, effective February 24. He fills the unexpired term of fellow Delta executive Eric Phillips, who is stepping down to focus on other commitments.

Wheels Up Announces Dwight James to Join Board of Directors

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NEW YORK, Feb. 15, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced that it will release its fourth quarter and fiscal year 2021 financial results before the market opens on Thursday, March 10, 2022. Management will host a conference call at 8:30 am ET to discuss the results.

Wheels Up Announces Date of Fourth Quarter and Fiscal Year 2021 Earnings Release and Conference Call

Proposed Acquisition Accelerates Wheels Up's International Expansion and Positions the Company as the Leading Private Aviation Brand Provides Connections to International Aircraft Supply as Global Demand Accelerates Air Partner's Diversified Platform Expands Wheels Up Suite of Services and Business Offerings into Group Charter, Freight, Specialist Services, Safety, Security, Emergency Planning and Incident Response, and Managed Services  All Cash Deal Expected to be Accretive to Adjusted Contribution Margin and Adjusted EBITDA NEW YORK and LONDON, Jan. 27, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced it has reached an agreement to acquire Air Partner PLC (LSE: AIR), a U.K.-based global aviation services group with operations in 18 locations and across four continents. Under the terms of the transaction, Wheels Up will acquire the entire issued and to be issued ordinary share capital of Air Partner for 125 pence per share, equivalent to an enterprise value of approximately $107 million.

Wheels Up Announces Agreement to Acquire Air Partner

NEW YORK, Jan. 3, 2022 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP), the leading brand in private aviation, today, announced the appointment of Stevens J. Sainte-Rose as Chief People Officer.

Wheels Up Announces Stevens J. Sainte-Rose as Chief People Officer and Expansion of President and Chief Marketing Officer Roles

The shares of Wheels Up Experience Inc (NYSE: UP) have received a price target of $5.90 from Morgan Stanley. These are the details.

Wheels Up Experience (UP) Stock: $5.90 Price Target From Morgan Stanley

Barrington analyst Gary Prestopino downgraded Wheels Up Experience Inc (NYSE:UP) to Market Perform from Outperform with a price target of $16, implying an upside of 189%. Prestopino noted the company reported better than expected revenue for the quarter with solid membership growth metrics.

Barrington Downgrades Wheels Up - Read Why

Wheels Up Experience, Inc. (UP) CEO Kenneth Dichter on Q3 2021 Results - Earnings Call Transcript

Despite some bright spots in the Q3 earnings report, investors are worried about headwinds.

Why Shares of Wheels Up Experience Are Losing Altitude Today

Wheels Up Experience Inc (NYSE: UP) reported a third-quarter revenue increase of 55% year-over-year to $301.98 million. The company's Active Members grew 45% Y/Y to 11,375 as of September 30, 2021.

Wheels Up Stock Slides On Q3 Loss, Margin Pressure

NEW YORK, Nov. 10, 2021 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the third quarter, which ended September 30, 2021. Third Quarter 2021 Highlights Revenue increased 55% year-over-year to $302.0 million Active Members grew 45% year-over-year to 11,375 in total Live Flight Legs increased 52% year-over-year to 19,714 in total Adjusted EBITDA decreased by $(15.9) million year-over-year to $(23.9) million "I am pleased to report another quarter of record revenue, which offers further evidence that the work to expand our fleet offerings, invest in our iconic brand, and serve our high value customers is setting us apart.

Wheels Up Announces Record Revenue for Third Quarter 2021

Morgan Stanley analyst Brian Nowak initiated Wheels Up Experience Inc (NYSE:UP) with an Underweight rating and a price target of $5.90, implying a downside of 19%. Nowak sees a relatively small total addressable market for Wheels Up.

Morgan Stanley Sees Sharp Downside In This Aviation Company

NEW YORK, Oct. 25, 2021 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will host a conference call to discuss its third quarter 2021 financial results at 8:30 am ET on Wednesday, November 10, 2021. The event will be webcast live and can be accessed via the Events & Presentations page of our Investor Relations website.

Wheels Up Announces Date of Third Quarter 2021 Earnings Release and Conference Call

NEW YORK, Oct. 19, 2021 /PRNewswire/ -- Wheels Up (NYSE:UP), the leading brand in private aviation, today, announced that Srikanth Satya has joined the Company as Chief Technology and Development Officer. This latest announcement is the third noteworthy technology appointment in the past month for the Company.

Wheels Up Announces Srikanth Satya As Chief Technology And Development Officer

NEW YORK, Oct. 5, 2021 /PRNewswire/ -- Wheels Up (NYSE:UP), the leading brand in private aviation, today, announced the appointment of Vinayak Hegde as President. The move comes during a time of historic demand and revenue growth and on the heels of its public listing in July 2021.

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