Earnings ·
Wheels Up Experience Inc. reported second quarter 2026 financial results showing GAAP revenue of $182.0 million, a 4%…
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Wheels Up Experience Inc. reported second quarter 2026 financial results showing GAAP revenue of $182.0 million, a 4% year-over-year decline driven by the disposition of non-core services businesses in 2025. The company posted a net loss of $107.2 million, or $(2.97) per share, an increase from the prior year period primarily due to higher interest expense and aircraft lease costs, alongside a $12.7 million non-cash impairment charge related to legacy fleet retirement. Total gross bookings fell 8% to $241.8 million as lower U.S. private jet charter volume was offset by growth in premium aircraft demand. Adjusted EBITDAR loss improved 27% year-over-year to $19.9 million, supported by a 20% increase in fleet utility following the completion of fleet modernization. Additionally, the company announced Amendment No. 5 to its Credit Agreement, extending Delta Air Lines' $100.0 million revolving credit facility commitment by two years through September 20, 2028. Wheels Up Experience Inc. operates in the private aviation industry, providing on-demand charter flights and membership programs.