Company expects to realize $70 mln or more in annual cash cost savings by end-2026
Wheels Up sees technology investments and fleet modernization supporting growth in charter business
Q2 results
Private aviation provider's Q2 revenue fell 4% yr/yr, mainly due to non-core business sales
Net loss widened to $107 mln, impacted by higher interest, lease costs and fleet impairment
Adjusted EBITDA loss improved 16% yr/yr, reflecting benefits from fleet modernization
Key details
Metric
Actual
Q2 Revenue
$182 mln
Q2 Loss Per Share
$2.97
Q2 Net Loss
$107.25 mln
Result drivers
Non-core business sales - Co said lower Q2 revenue was mainly due to the sale of non-core services businesses in 2025
Fleet modernization - Premium Phenom and Challenger jets now comprise 100% of active controlled fleet, with legacy fleet fully retired as of April, aimed at improving efficiency and profitability
- Lower U.S. private jet charter volume and gross bookings were attributed to process and technology inefficiencies from ongoing sales force transformation
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