Welcome to our dedicated page for Wheels Up Experience news (Ticker: UP), a resource for investors and traders seeking the latest updates and insights on Wheels Up Experience stock.
Wheels Up Experience Inc. (NYSE: UP) provides investors and aviation professionals with centralized access to official announcements and market developments for this innovative private aviation provider. This resource aggregates essential updates including quarterly earnings reports, fleet expansions, strategic partnerships like the Delta Air Lines collaboration, and operational enhancements to its digital booking platform.
Users gain streamlined tracking of financial filings, membership program updates, and technology initiatives that shape UP's position in the luxury travel sector. The curated collection serves as a reliable reference for analyzing the company's asset-light business model, safety protocol implementations, and competitive responses within the private aviation market.
All content undergoes verification to ensure accuracy and compliance with financial disclosure standards. Bookmark this page for real-time updates on UP's market movements, leadership changes, and innovations in membership-based air travel solutions.
Wheels Up (NYSE: UP) has received a notice from the NYSE on April 22, 2025, indicating non-compliance with the exchange's minimum share price requirement, as its stock failed to maintain an average closing price above $1.00 over 30 consecutive trading days.
The company has six months to regain compliance and plans to propose a reverse stock split at its June 10, 2025 annual stockholder meeting. As of December 31, 2024, Wheels Up maintained approximately $316 million in liquidity, including $216 million in unrestricted cash and a $100 million undrawn credit facility from Delta Air Lines.
The company remains focused on operational improvements through fleet modernization with Embraer Phenom 300 and Bombardier Challenger 300 aircraft, while leveraging its partnership with Delta Air Lines. The NYSE notice does not immediately affect the stock's listing or the company's ability to serve customers.
Wheels Up Experience (NYSE: UP) has scheduled its first quarter 2025 earnings release for Thursday, May 1, 2025. The company will make all earnings-related materials available through their investor relations website at investors.wheelsup.com.
Wheels Up Experience Inc. (NYSE: UP) has appointed John Verkamp as Chief Financial Officer, effective March 31, 2025. Verkamp brings over 20 years of experience from GE and GE Vernova in aviation and power industries, where he most recently served as Vice President and CFO of Gas Power Global Services.
Prior to joining Wheels Up, Verkamp held various financial leadership positions including CFO of Gas Power Commercial and Services, CFO of Avio Aero, and Chief Risk Officer at GE Aviation. CEO George Mattson highlighted Verkamp's appointment as important for the company's business transformation, citing his strategic mindset and ability to drive impactful change.
Eric Cabezas, who served as Interim CFO, will transition back to his role as Senior Vice President of Finance.
Wheels Up (NYSE: UP) reported its Q4 and full-year 2024 results, showing progress in its business transformation. Q4 revenue reached $204.8M with an Adjusted EBITDA loss of $11.3M, while full-year revenue was $792.1M with a net loss of $339.6M.
The company's fleet modernization strategy is underway with 18 new Phenom jets added and 50 legacy aircraft retired in 2024. The December quarter showed the lowest Adjusted EBITDA loss since going public, with December nearly reaching breakeven. Operational metrics improved with a 98% completion rate, though 80% on-time performance faced challenges.
Key developments include John Verkamp's appointment as CFO effective March 31, and securing a new $332M revolving credit facility with Bank of America, backed by Delta. The Q4 Adjusted Contribution Margin improved to 19.3%, driven by a 33% increase in Utility.
Wheels Up Experience Inc. (NYSE: UP) has announced the date for its fourth quarter 2024 earnings release, which is scheduled for Tuesday, March 11, 2025. The company, which made this announcement on February 25, 2025, will make all earnings materials available to investors and interested parties through its dedicated investor relations website at investors.wheelsup.com.
This scheduled earnings release will provide shareholders and market analysts with important financial performance data and business updates for the final quarter of Wheels Up's 2024 fiscal year. The announcement represents a standard corporate practice of providing advance notice for quarterly financial disclosures.
Wheels Up Experience (NYSE: UP) has appointed Jill Greer as Executive Vice President of Investor Relations and Sustainability, effective January 2025. Greer brings over 20 years of aviation experience, including 21 years at Delta Air Lines where she led investor relations and finance digital transformation efforts. In her new role, she will shape Wheels Up's investment narrative, lead investor engagement, and develop the company's ESG strategy.
Prior to joining Wheels Up, Greer served as Vice President of Investor Relations at Travel + Leisure Co. and Senior Vice President of Finance at ADT. At Delta, she helped earn the company recognition as a 'Most Honored Company' by Institutional Investor. Based in Atlanta, Greer holds an MBA from Georgia Institute of Technology and a Bachelor's degree from University of Maryland.
Wheels Up Experience Inc. (NYSE: UP) has secured a $332 million revolving equipment notes facility with Bank of America and completed the acquisition of GrandView Aviation's fleet of 17 Embraer Phenom 300 and 300E aircraft, along with maintenance assets and customer programs. The facility, supported by Delta Air Lines' credit backing, refinanced Wheels Up's existing fleet, funded the GrandView acquisition, and will support future fleet transition. The strategic move aims to enhance customer experience by expanding the fleet with newer, more capable aircraft, particularly during the peak holiday travel season.
Wheels Up (NYSE:UP) reported Q3 2024 financial results with revenue of $194 million, showing stabilization but down year-over-year. The company achieved its highest-ever Adjusted Contribution Margin of 14.8%, up 380 basis points year-over-year. Net loss improved to $58 million, an $87 million improvement year-over-year. The company announced a fleet modernization strategy, including plans to acquire GrandView Aviation's 17 Phenom aircraft and sell 13 Citation X aircraft. A new $332 million credit facility commitment from Bank of America, supported by Delta Air Lines, is expected to strengthen the balance sheet.
Wheels Up Experience Inc. (NYSE: UP) has announced a major fleet modernization strategy, involving several key transactions:
1. Acquisition of GrandView Aviation's entire fleet of 17 Phenom 300 and 300E aircraft for $105 million.
2. Agreement to sell its owned fleet of Citation X aircraft and lease them back temporarily.
3. Plans to introduce Bombardier Challenger 300 and 350 aircraft to its fleet.
4. Partnership with Gogo Business Aviation to equip new aircraft with Gogo Galileo HDX satellite-based WiFi.
5. Secured a $332 million revolving credit facility from Bank of America, with credit support from Delta Air Lines.
These moves aim to lower the average fleet age by 10 years, improve operational performance, and enhance customer experience. The transition is expected to be completed within three years, subject to market conditions.
Wheels Up Experience Inc. (NYSE: UP) has announced the date for its third quarter 2024 earnings release. The company will disclose its financial results on Thursday, November 7, 2024. Following the release, management will provide a review of the quarter and a business update during a webcast at 10 am ET. Interested parties can access the event through the Events & Presentations page on the company's Investor Relations website. An online replay of the conference call will be made available approximately three hours after the webcast concludes.
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