Wheels Up Q3 revenue falls 11% on lower charter volume
UP•Wheels Up's third-quarter revenue fell 11% year over year to $164.79 million, and its net loss widened to $89.44 million. Adjusted EBITDAR loss narrowed 44%.
UP•UP•UP•Wheels Up's third-quarter revenue fell 11% year over year to $164.79 million, and its net loss widened to $89.44 million. Adjusted EBITDAR loss narrowed 44%.
Wheels Up reported third-quarter revenue of $164.79 million, down 11% year over year, and a net loss of $89.44 million. Its adjusted EBITDA loss was $18.88 million, while its adjusted EBITDAR loss narrowed 44%.
The company attributed lower gross bookings to reduced group charter, cargo and on-demand charter activity, and said transformation-related expenses affected gross profit. Premium fleet revenue rose sharply as legacy fleet revenue declined during the wind-down of legacy membership programs. Wheels Up aims to complete that wind-down in 2027 and expects six Embraer Phenom 300E aircraft to be delivered in the second half of 2027.
