Wheels Up Q2 revenue falls 3%, gross profit improves

Wheels Up Experience

07/08/2025 12:05

Overview

Wheels Up Q2 revenue down 3% yr/yr, totaling $189.6 mln

Gross profit improves by $13.2 mln yr/yr despite revenue decline

Adjusted EBITDA loss improves 22% yr/yr

Outlook

Company expects $50 mln annual cash savings from efficiency initiatives

Wheels Up to add three Challenger 300 aircraft in Q3 2025

Company anticipates full impact of cost savings by late 2026

Wheels Up focuses on fleet modernization and Delta partnership for growth

Result Drivers

FLEET MODERNIZATION - Co's fleet modernization strategy led to $13 mln improvement in gross profit despite fewer aircraft

DELTA PARTNERSHIP - Strong growth in Delta partnership with corporate membership fund sales up over 25% yr/yr

COST SAVINGS - Initiatives expected to drive $50 mln in annual cash savings through fleet modernization and efficiency improvements

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
$189.60 mln
Q2 Net Income
-$82.30 mln
Q2 Adjusted EBITDA
-$29 mln


Press Release: ID:nPn3NyHKPa

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)