Wheels Up Q2 2024: Revenue $196M, net loss narrows to $97M, board appoints Summe

Wheels Up Experience Inc.

2024-Q2 EPS reported -$0.28 revenue$393,386,000

Revenue $196M, down 41% YoY; net loss $97M, improved from $160.6M loss.
Adjusted EBITDA loss $37M, improved from $40.3M; contribution margin 7.8%.
Active members 8,268 (-29%); live flight legs 12,855 (-29%).
David Adelman resigned from board; Gregory L. Summe appointed as independent director effective Aug 7, 2024.
Strategic partnership with Delta deepened; King Air and Citation fleets under single FAA certificate.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Gregory L. Summe

Director

UP · Wheels Up Experience Inc.

Effective: 2024-08-07
Filed: August 8, 2024, 7:59 PM ET

the Board resolved to appoint Gregory L. Summe as an independent member of the Board, effective upon the resignation of, and to fill the seat on the Board previously occupied by, Mr. Adelman.

Departed

David Adelman

Director

UP · Wheels Up Experience Inc.

Effective: 2024-08-07
Successor: Gregory L. Summe
Filed: August 8, 2024, 7:59 PM ET

On August 7, 2024 (the “Effective Date”), David Adelman notified the Company's Board of Directors (the “Board”) of his resignation from the Board and all committees thereof, effective immediately, in order to focus on his other professional pursuits.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Gregory L. Summe was appointed as Director at Wheels Up Experience Inc..

Action: appointed
Role: Director

Exact text from the filing

the Board resolved to appoint Gregory L. Summe as an independent member of the Board, effective upon the resignation of, and to fill the seat on the Board previously occupied by, Mr. Adelman.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

David Adelman resigned as Director at Wheels Up Experience Inc..

Action: resigned
Role: Director

Exact text from the filing

On August 7, 2024 (the “Effective Date”), David Adelman notified the Company's Board of Directors (the “Board”) of his resignation from the Board and all committees thereof, effective immediately, in order to focus on his other professional pursuits.

View on SEC.gov

Wheels Up Experience Inc. filing history →

Source: SEC EDGAR

accession 0001819516-24-000044

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