Wheels Up
About: Wheels Up Experience Inc is a provider of on-demand private aviation in the United States. It is pioneering data and technology-driven solutions that connect consumers to safety-vetted and verified private aircraft. It connects private flyers to aircraft, and one another, through an open platform that enables life's most important experiences. Its offering is delivered through a mix of programmatic and charter options that strategically utilize its owned and leased aircraft fleet and an "asset-light" charter model to deliver a greater range of global travel alternatives. The company operates in a single operating and reportable segment, private aviation services. Geographically the company generates the majority of its revenue from the United States.
Employees: 2,206
0
Funds holding %
of 7,139 funds
–
Analysts bullish %
Fund manager confidence
Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)
38% more call options, than puts
Call options by funds: $331K | Put options by funds: $239K
0% more first-time investments, than exits
New positions opened: 19 | Existing positions closed: 19
0.11% less ownership
Funds ownership: 81.53% [Q3] → 81.42% (-0.11%) [Q4]
7% less repeat investments, than reductions
Existing positions increased: 26 | Existing positions reduced: 28
5% less funds holding
Funds holding: 109 [Q3] → 104 (-5) [Q4]
25% less funds holding in top 10
Funds holding in top 10: 4 [Q3] → 3 (-1) [Q4]
32% less capital invested
Capital invested by funds: $1.38B [Q3] → $938M (-$442M) [Q4]
Research analyst outlook
We haven’t received any recent analyst ratings for UP.
Financial journalist opinion
Neutral
Business Wire
2 months ago
University of Portland Announces Transformational $20 Million Gift
PORTLAND, Ore.--(BUSINESS WIRE)--University of Portland (UP) is proud to announce a $20 million dollar gift — one of the largest single gifts in school history — from a multi-generational family whose ties to the University span more than 65 years. The historic gift will support the University's priorities of enhancing student access, supporting academic excellence, and strengthening student formation. The donor family chose to remain anonymous in order to “keep the focus on the important work.
Positive
Seeking Alpha
3 months ago
Wheels Up: Be Patient, But A Turnaround Is In The Works
Shares of Wheels Up have begun a modest rebound after the company's Q3 earnings release. Importantly, Wheels Up announced a $332 million financing package from Bank of America and guaranteed by Delta to purchase new aircraft. Standardizing Wheels Up's fleet with newer aircraft is expected to boost flight operations and maintenance costs, a key lever in the company's plan to hit adjusted EBITDA profitability by 2025.
Neutral
PRNewsWire
3 months ago
Wheels Up Names Jill Greer as Executive Vice President, Investor Relations and Sustainability
Greer to lead Wheels Up's investor relations strategy as well as the development and implementation of company's sustainability strategy ATLANTA , Nov. 19, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), a global leader in private aviation, today announced the appointment of Jill Greer as Executive Vice President, Investor Relations and Sustainability. Jill brings over two decades of experience in aviation and strong financial leadership to the role, having spent 21 years working at Delta Air Lines.
Neutral
PRNewsWire
3 months ago
Wheels Up Secures $332 Million Revolving Financing Facility and Completes Acquisition of 17 Phenom 300 Series Aircraft
New Bank of America-led facility, with Delta Air Lines credit support, provides growth flexibility as Wheels Up expands its fleet with GrandView Aviation assets to enhance customer experience ATLANTA , Nov. 14, 2024 /PRNewswire/ -- On November 13, 2024, Wheels Up Experience Inc. (NYSE: UP ) closed its new $332 million revolving equipment notes facility with Bank of America, and completed the acquisition of GrandView Aviation's fleet of 17 Embraer Phenom 300 and Phenom 300E aircraft, and related maintenance assets and customer programs. The closings mark a major step forward for Wheels Up's strategic growth goals, aimed at delivering an elevated and reliable experience for its customers.
Neutral
Seeking Alpha
3 months ago
Wheels Up Experience Inc. (UP) Q3 2024 Earnings Call Transcript
Wheels Up Experience Inc. (NYSE:UP ) Q3 2024 Results Conference Call November 7, 2024 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Eric Cabezas - Interim Chief Financial Officer Operator Welcome to Wheels Up's Third Quarter 2024 Earnings Conference Webcast. It is my pleasure to introduce Keith Ferguson.
Neutral
PRNewsWire
3 months ago
Wheels Up Reports Third Quarter Results
Improvement in financial performance driven by operating initiatives over past year Fleet modernization plan represents next phase of strategic journey to profitability New credit facility expected to strengthen balance sheet; credit support from Delta Air Lines underscores commitment to strategic partnership ATLANTA , Nov. 7, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE:UP) today announced financial results for the third quarter, which ended September 30, 2024. Third Quarter 2024 Highlights 1 Revenue was $194 million, stabilizing at levels consistent with the first and second quarters of 2024, though down year over year due primarily to the sale of non-core businesses and focus on profitable flying Adjusted Contribution Margin was 14.8%, the highest as a public company, and an increase of 380 basis points year over year and 700 basis points sequentially Net loss was $58 million for the quarter, an improvement of $87 million year over year and $39 million sequentially Adjusted EBITDA loss was $20 million, an improvement of $17 million sequentially and slightly worse year over year on lower revenues Net cash used in operating activities improved to an outflow of $15 million, a 94% improvement versus $250 million last year "After seven consecutive quarters of revenue contraction leading into 2024, the intentional improvements we have made to our business over the last year have stabilized our top line, expanded margins to record levels, and positioned us for growth," said George Mattson, Chief Executive Officer.
Neutral
PRNewsWire
4 months ago
Wheels Up Announces Fleet Modernization Strategy and Associated Transactions
Wheels Up to transition its current jet fleets to Phenom 300 Series and Challenger 300 Series aircraft Entered into agreement to acquire GrandView Aviation's entire fleet of 17 Phenom 300 and Phenom 300E aircraft Entered into agreement to sell entire owned fleet of super mid Citation X aircraft and lease for a limited period in preparation for transition to Challenger fleet New fleet to be outfitted with best-in-class Gogo Galileo HDX satellite-based WiFi Committed financing to be provided by Bank of America, with credit support from Delta Air Lines ATLANTA , Oct. 22, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced a series of major aircraft, commercial and financing transactions that lay the foundation for the company's fleet modernization strategy. Upon closing, the transactions will initiate the transition of Wheels Up's four existing jet aircraft types to two of the most preferred and successful aircraft types in the industry – Embraer's Phenom 300 and Phenom 300E aircraft and Bombardier's Challenger 300 and Challenger 350 aircraft.
Neutral
PRNewsWire
4 months ago
Wheels Up Announces Date of Third Quarter 2024 Earnings Release and Webcast
ATLANTA , Oct. 17, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that it will release its third quarter 2024 financial results on Thursday, November 7, 2024. Management will provide a review of the quarter and business update in prepared remarks during a webcast at 10 am ET.
Neutral
PRNewsWire
4 months ago
Wheels Up Appoints Meaghan Wells as EVP of Enterprise Planning and Strategy
Wells to lead Wheels Up's enterprise planning, fleet and corporate strategy, corporate development and commercial partnerships, leveraging her years of industry experience ATLANTA , Oct. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced Meaghan Wells as its new EVP of Enterprise Planning and Strategy, to lead the development of the company's long-term growth strategy and further cement Wheels Up's position as a leader in global aviation solutions. Wells has a dynamic background and experience, specializing in driving growth and securing capital for rapidly scaling organizations.
Neutral
PRNewsWire
5 months ago
Wheels Up Announces Investors Agree to One-Year Lock-Up Extension
Approximately 97.2% of lead investor shares will remain subject to the lock-up restriction until September 20, 2025 ATLANTA , Sept. 23, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP) today announced that lead investors, Delta Air Lines, Inc., CK Wheels LLC, and Cox Investment Holdings, LLC, agreed to extend the lock-up restriction with respect to all their shares of common stock issued under the Investment and Investor Rights Agreement, for an additional year, until September 20, 2025.
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