Here are the 10-K annual reports from Wheels Up Experience Inc. (UP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow UP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full UP filings page.
Wheels Up Experience Inc. describes a multi‑year business transformation centered on fleet modernization, a revamped membership model and an expanded global charter platform, all supported by a strategic partnership with Delta Air Lines. The company is shifting its controlled fleet toward Embraer Phenom 300 and Bombardier Challenger 300 series aircraft while using a large network of third‑party operators to fill demand.
Wheels Up earns most revenue from flights funded by Membership Funds and on‑demand charters, with additional income from cargo and government and defense work. A long‑term commercial cooperation agreement with Delta includes integrated booking, status and benefits, and coordinated sales efforts. To fund operations and transformation, Wheels Up entered into a Credit Agreement providing a $390.0 million term loan and a $100.0 million revolving facility, and issued 671,239,941 shares of common stock to lenders, which now have board designation and voting‑limit rights.
The filing highlights significant risks: execution of cost‑reduction and efficiency plans, capital‑intensive fleet changes, exposure to fuel prices, competition across private aviation models, regulatory and safety oversight, and dependence on key partners and vendors. As of June 30, 2025, non‑affiliate equity market value was $106.8 million, and 724,465,549 Class A shares were outstanding as of March 9, 2026.