---
schema_version: "secwatch.filing_event.v1"
accession: "0001819516-24-000026"
form_type: "8-K"
ticker: "UP"
cik: "0001819516"
company_name: "Wheels Up Experience Inc."
filed_at: "2024-05-09T23:59:59+00:00"
generated_at: "2026-06-02T06:48:17.500923+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Wheels Up Q1 revenue down 44% to $197M; net loss improves slightly to $97M

## Summary
- Revenue $197M vs $352M YoY; decline driven by exiting aircraft management and sales businesses.
- Net loss of $97M, improved from $101M YoY; Adjusted EBITDA loss of $49M flat YoY.
- Active members 9,155 (-25% YoY); Live flight legs 11,754 (-24% YoY).
- Operational metrics: Completion Rate 98%, On-Time Performance 87% both exceeding goals.
- Appointed David Harvey as CCO; plans new flagship maintenance facility at Palm Beach International.

## SEC filing metadata
- accession: 0001819516-24-000026
- form_type: 8-K
- ticker: UP
- cik: 0001819516
- company_name: Wheels Up Experience Inc.
- filed_at: 2024-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000026/0001819516-24-000026-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000026/up-20240509.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001819516-24-000026
- JSON: https://secwatch.observer/filing/0001819516-24-000026.json
- Plain text: https://secwatch.observer/filing/0001819516-24-000026.txt

## Key facts
- Earnings Releases
  Wheels Up Experience Inc. reported the first quarter, which ended March 31, 2024 results: revenue $197,101, net income $(97,393).
  - Period: the first quarter, which ended March 31, 2024
  - Revenue: $197,101
  - Net income: $(97,393)
  - Result: reported results
  source text: $ 66,528 33 % Other Charter FTV 32,911 31,083 6 % Total Charter FTV $ 121,599 $ 97,611 25 % On-Time Performance (D-60) 87 % 86 % 1 % Completion Rate 98 % 98 % — % Revenue $ 197,101 $ 351,812 (44) % Net loss $ (97,393) $ (100,866) 3 % Adjusted EBITDA $ (49,229) $ (48,915) (1) % __________________ (1) For information regarding Wheels Up’s use and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1819516/000181951624000026/0001819516-24-000026-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.