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Wheels Up Q3 revenue falls 11% on lower charter volume

By Reuters News


Overview

  • US private aviation provider's Q3 revenue fell 11% yr/yr, partly due to non-core business sales

  • Company's Q3 net loss widened compared to prior year

  • Adjusted EBITDAR loss narrowed 44%, reflecting premium fleet transition and cost initiatives


Outlook

  • Company aims to complete wind-down of legacy membership programs in 2027

  • Company expects delivery of six new Embraer Phenom 300E aircraft in H2 2027

  • Company plans to expand Signature Membership and premium fleet to drive long-term growth


Result Drivers

  • FLEET TRANSITION - Co said premium fleet revenue rose sharply while legacy fleet revenue declined as legacy programs were wound down

  • LOWER CHARTER VOLUME - Co attributed decline in gross bookings to reduced group charter, cargo and on-demand charter activity

  • BUSINESS TRANSFORMATION COSTS - Co said transformation-related expenses affected gross profit


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$164.79 mln

Q3 Loss Per Share

$2.48

Q3 Net Loss

$89.44 mln

Q3 Adjusted EBITDA

-$18.88 mln


Reuters Recommended Reads

  • Nov 4 - Allegiant Travel Q3 revenue beats estimates on TRASM strength

  • Nov 4 - India's IndiGo in talks with Embraer to buy 100 jets, sources say

  • Nov 4 - Global Crossing Airlines Q3 revenue jumps on passenger demand


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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