Wheels Up Posts $37M Positive EBITDAR and 67% Loss Reduction in Q4
Wheels Up achieved its first positive adjusted EBITDAR of $37 million in Q4 2025 while reducing net loss by 67% year over year on flat $184 million revenue. The company secured $30 million net cash from a ten-aircraft sale-leaseback and increased premium jets to 40% of its fleet.
1. Q4 2025 Financial Highlights
In its fourth quarter of 2025, Wheels Up delivered its first positive adjusted EBITDAR of $37 million and reduced its net loss by 67% year over year on unchanged $184 million revenue, aided by cost-reduction measures totaling $70 million.
2. Cash Generation and Fleet Transactions
The company secured $30 million in net cash through a ten-aircraft sale-leaseback transaction, providing liquidity to support future fleet acquisitions and strategic capital needs.
3. Operational Performance and Fleet Transformation
Operational metrics reached record levels with a 99% completion rate and 91% on-time performance, while premium Phenom and Challenger jets now represent 40% of the controlled fleet, advancing fleet modernization goals.
4. Growth Initiatives and Membership Sales
Commercial momentum was driven by the new Signature Membership program and a deepening Delta partnership, contributing to a 35% year-over-year rise in corporate membership sales, and high-speed satellite Wi-Fi is set to cover nearly the entire fleet by end-2026.