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wheelsup.com

Founded Year

2013

Stage

Acq - Pending | Acquired

Total Raised

$556.15M

Valuation

$0000 

About Wheels Up

Wheels Up (NYSE: UP) is a membership-based private aviation company that reduces the upfront costs to fly privately while providing safety, service, flexibility, and quality.

Wheels Up Headquarter Location

220 West 42nd Street 9th Floor

New York, New York, 10036,

United States

855-359-8760

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Expert Collections containing Wheels Up

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Wheels Up is included in 1 Expert Collection, including Travel Technology (Travel Tech).

T

Travel Technology (Travel Tech)

2,131 items

The travel tech collection includes companies offering tech-enabled services and products for tourists and travel players (hotels, airlines, airports, cruises, etc.). It excludes financial services and micro-mobility solutions.

Latest Wheels Up News

Wheels Up Reports Record Revenues, Large Losses in 1Q22

May 13, 2022

- May 12, 2022, 5:59 PM Private aviation company Wheels Up posted a 24 percent year-over-year revenue jump, to $325.6 million, in the first quarter, but it came at the price of a net loss of $89 million, an increase of $56.8 million year-over-year. Adjusted earnings before interest, taxes, depreciation, and amortization decreased by $40.8 million year-over-year, to a $49.4 million loss. Meanwhile, the company's number of active members rose 26 percent year-over year, and live flight legs climbed by 15 percent, to 17,626. “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,” said Wheels Up chairman and CEO Kenny Dichter. “Over the past several months, we have made meaningful improvements to address operational challenges and expect to realize the benefit in the coming quarters. We are ahead of plan on pilot hiring and continue to add to our maintenance capabilities while also delivering on several key strategic and technology initiatives.” Wheel Up expects forward financial performance to improve with the implementation of fuel surcharges and additional capped rate price increases. It also said it undertook a variety of recent growth initiatives, including the acquisition of Air Partner  on April 1, to provide Wheels Up with “an attractive asset-light platform to extend its offerings globally for its customers who are increasingly looking to travel around the world.” The company further said that converting the majority of its owned and operated fleet to the UP fleet management system will allow it to better automate aircraft positioning and crew scheduling. Additionally, it is launching an updated Wheels Up mobile app to “introduce new capabilities that enhance the customer experience at scale.”

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