Wheels Up Q3 revenue down 24% to $320M; secures $450M Delta-led capital; names new CEO

Wheels Up Experience Inc.

2023-Q3 EPS reported -$13.22 revenue$1,006,937,000

Revenue $320M, down 24% YoY; net loss $145M includes $56M non-cash goodwill impairment.
Adjusted EBITDA loss $19M, improved $27M YoY; best profit performance since 2021.
Secured $450M new capital from Delta Air Lines, Certares, Knighthead, Cox; $50M term loan in discussion.
George Mattson, longtime Delta board member, appointed CEO; new directors from majority owners.
Active members down 15% to 10,775; Live Flight Legs down 21% to 16,581.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Wheels Up Experience Inc. reported the three months ended September 30, 2023 results: revenue $320,063, net income $(144,813).

Period: the three months ended September 30, 2023
Revenue: $320,063
Net income: $(144,813)
Result: reported results

Exact text from the filing

Flight Leg) 2023 2022 % Change Active Users (1) 11,988 13,339 (10) % Live Flight Legs (1) 16,581 21,025 (21) % Flight revenue per Live Flight Leg 12,945 13,266 (2)% Revenue $ 320,063 $ 420,356 (24) % Net loss $ (144,813) $ (148,838) 3 % Adjusted EBITDA (1) $ (18,529) $ (45,229) 59 % Nine Months Ended September 30, (In thousands) 2023 2022 % Change Revenue $

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Wheels Up Experience Inc. filing history →

Source: SEC EDGAR

accession 0001819516-23-000055

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