Wheels Up Experience Inc Stock Price, News & Analysis

Wheels Up (NYSE:UP) partnered with the RedTail Flight Academy to launch a flight academy at Stewart International Airport, aiming to increase diversity in aviation. The program will train seven minority youth, including three females, to become pilots, honoring the legacy of the Tuskegee Airmen. Wheels Up will provide internships for graduates and donate $1,000 from new membership sign-ups to the academy. The academy offers a 10-month training program to students aged 18-21, certifying them with a multi-engine commercial pilot license and instrument rating.

Wheels Up (NYSE:UP) announced that its executive management team will present at the Raymond James Consumer Conference on September 14, 2021, starting at 9:20 AM ET. The presentation will be available for live webcast, accessible through the provided links. Wheels Up, a leader in private aviation, offers a comprehensive solution including on-demand flights and membership programs, emphasizing safety and flexibility with access to over 1,500 vetted aircraft. The company also engages in philanthropic efforts through its Wheels Up Cares program.

Wheels Up (NYSE:UP) reported a strong second quarter for 2021, with revenue increasing 113% year-over-year to $285.6 million. Active Members surged 47% to 10,515, and Live Flight Legs rose 146% to 18,234. While the company experienced a net loss of $(29.0 million), this was only a 6% increase from the previous year. Adjusted EBITDA improved by $7.6 million year-over-year to $(8.5 million). The company attributed growth to strong demand across its fleet and strategic initiatives. A merger with Aspirational Consumer Lifestyle Corp. was completed on July 13, 2021.

Wheels Up (NYSE: UP) has appointed Gene McKenna as the new Chief Product Officer, a pivotal role aimed at enhancing its Marketplace platform to meet rising demand in private aviation. McKenna, with 18 years in product management and a decade in software engineering, will spearhead product strategy and vision to accelerate growth. This appointment follows Wheels Up's recent listing on the NYSE on July 15, 2021, marking a significant milestone for the company.

Wheels Up Experience Inc. (NYSE: UP) will release its second quarter 2021 financial results on August 12, 2021, before market open. A conference call is scheduled for 8:30 am ET to discuss these results. Investors can access the call through the Investor Relations website or by phone. A replay of the call will be available shortly after it ends, until August 26, 2021.

Wheels Up (NYSE: UP) announces a strategic partnership with Abercrombie & Kent to provide exclusive travel experiences for Wheels Up Members. This partnership introduces two domestic journeys exploring America's National Parks and the Pacific coast, utilizing the Wheels Up fleet. In January 2022, a unique East Africa journey for the Great Migration will also be available. This partnership reflects Wheels Up's commitment to enhancing member benefits and offers customized itineraries designed by dedicated travel consultants.

Wheels Up Experience Inc. has officially closed its merger with Aspirational Consumer Lifestyle Corp., making it the first private aviation company listed on the NYSE under the ticker 'UP'. The transaction was approved on July 12, 2021, and closed the following day. Wheels Up reported a remarkable 68% year-over-year revenue growth in Q1 2021, totaling $261.7 million, alongside a 56% increase in active members. The company plans to expand its private aviation marketplace and invest in technology to enhance its services.

Aspirational Consumer Lifestyle Corp. (NYSE: ASPL) announced that approximately 93.6% of shareholders approved the business combination with Wheels Up Partners Holdings LLC. This decision, made during an extraordinary general meeting, represents around 63.3% of Aspirational's outstanding shares. The merger is set to close on July 13, 2021, after which Wheels Up's Class A common stock will trade under the ticker symbol 'UP' on the NYSE. Aspirational will be renamed 'Wheels Up Experience Inc.' following the completion of the transaction.

Wheels Up has announced a merger with Aspirational Consumer Lifestyle Corp., valuing the private aviation brand at $2.1 billion. This strategic partnership aims to democratize private air travel through a technology-driven marketplace, expanding its reach to millions. The merger is expected to provide up to $790 million in gross proceeds, including a $550 million PIPE investment. Upon completion, Wheels Up will be publicly traded on the NYSE under the symbol UP. The transaction is scheduled to close in Q2 2021, subject to shareholder approval and regulatory conditions.