Earnings ·
Reports Q3 net loss of $89.4M; secures additional $100M revolving credit facility from Delta
UPWheels Up Experience Inc.
Wheels Up Experience Inc. reported a third-quarter GAAP revenue of $164.8 million, an 11% decline year-over-year, and a net loss of $89.4 million, or $(2.48) per share. Adjusted Contribution improved 15% to $27.0 million with a margin of 16.4%. The company also announced that Delta Air Lines committed an additional $100 million revolving credit facility and placed a definitive order for six new Embraer Phenom 300E jets valued at approximately $90 million. Wheels Up is a leading global provider of on-demand private aviation services.