Welcome to our dedicated page for Wheels Up Experience news (Ticker: UP), a resource for investors and traders seeking the latest updates and insights on Wheels Up Experience stock.
Wheels Up Experience Inc. (NYSE: UP) is a provider of on-demand private aviation in the United States, and this news page aggregates company announcements, market updates, and regulatory disclosures relevant to its stock and operations. Readers can use this feed to follow how Wheels Up is executing its private aviation strategy, including developments in its membership offerings, fleet, and capital structure.
Recent company news has highlighted a multi-year business transformation that includes a fleet modernization strategy focused on Bombardier Challenger 300 series and Embraer Phenom 300 series aircraft. Articles have described the launch of the Wheels Up Signature Membership, which offers guaranteed nationwide access to this premium fleet, and the introduction of Dynamic and Fixed access plans designed for different types of private fliers. Other updates cover operational performance metrics, cost efficiency initiatives, and the retirement of certain legacy aircraft types from revenue service.
Investors and customers following UP news will also see coverage of Wheels Up’s strategic partnership with Delta Air Lines, including announcements about corporate Membership Fund sales, cross-selling initiatives, and the ability for members to self-book Delta commercial flights through the Wheels Up portal using existing funds. Additional news items discuss partnerships to enhance in-flight dining with AtYourJet and Chef Robert Irvine, as well as the installation of Gogo Galileo HDX satellite Wi-Fi across the modernized fleet.
Regulatory and capital markets developments are another key news category for Wheels Up. Company press releases and related filings have described an at-the-market equity offering program, lock-up extensions agreed with lead and additional investors, and a New York Stock Exchange notice regarding minimum share price listing standards. By reviewing this news stream, readers can track how Wheels Up manages its fleet, membership portfolio, investor relationships, and listing status over time.
Wheels Up Experience (NYSE: UP) has announced a global partnership with United Autosports, a leading endurance racing team and McLaren Automotive's official racing partner. The collaboration will provide Wheels Up customers with exclusive access to prestigious motorsport events, including the FIA World Endurance Championship, European Le Mans Series, and WeatherTech IMSA SportsCar Championship.
The partnership launches at the 2025 24 Hours of Le Mans on June 14-15, coinciding with McLaren's 30th anniversary of their 1995 victory. Wheels Up's branding will be featured on United Autosports' vehicles and uniforms, debuting at Le Mans. Customers will gain behind-the-scenes access, trackside viewing, and direct interaction with team members at various global racing events, from Sebring and Daytona to Spa, Imola, and Bahrain.
Atmus Filtration Technologies (NYSE: ATMU) has appointed Laura Heltebran as Chief Legal Officer and Corporate Secretary, effective May 13, 2025. Reporting to CEO Steph Disher, Heltebran joins the Atmus Leadership Team with extensive legal experience, most notably serving as EVP, Chief Legal Officer & Corporate Secretary at Wheels Up, where she led the company's 2021 NYSE IPO. Her career includes senior legal positions at prominent companies including Hilton Worldwide, Hewlett Packard Enterprise, and MCI Telecommunications. Heltebran holds NACD Directorship Certification and is a graduate of George Mason University with a Juris Doctor from the Antonin Scalia Law School.
Wheels Up Experience (NYSE: UP), a private aviation company, announced that CEO George Mattson will present at the Bank of America Industrials, Transportation, and Airlines Key Leaders Conference in New York. The presentation is scheduled for Thursday, May 15, 2025, at 8:45 am ET. Investors can access the live webcast through the Events & Presentations section of the company's Investor Relations website, where an archived version will also be available afterward.
Wheels Up (NYSE: UP) has launched a new Sustainable Aviation Fuel (SAF) program, partnering with Delta Air Lines to enable charter customers to contribute towards decarbonizing aviation. The program allows customers to support SAF usage regardless of their flight operator or departure airport. SAF, a renewable alternative to conventional jet fuel, can reduce lifecycle carbon emissions by up to 80% when compared to traditional jet fuel.
Through this initiative, customers can determine their desired SAF support level, with Wheels Up coordinating contributions through the Delta SAF Program. The company has also partnered with Chooose, a software platform specializing in lower-carbon aviation solutions, to support this initiative. Currently, SAF accounts for only 0.3% of global jet fuel production as of 2024.
Wheels Up (NYSE: UP) has received a notice from the NYSE on April 22, 2025, indicating non-compliance with the exchange's minimum share price requirement, as its stock failed to maintain an average closing price above $1.00 over 30 consecutive trading days.
The company has six months to regain compliance and plans to propose a reverse stock split at its June 10, 2025 annual stockholder meeting. As of December 31, 2024, Wheels Up maintained approximately $316 million in liquidity, including $216 million in unrestricted cash and a $100 million undrawn credit facility from Delta Air Lines.
The company remains focused on operational improvements through fleet modernization with Embraer Phenom 300 and Bombardier Challenger 300 aircraft, while leveraging its partnership with Delta Air Lines. The NYSE notice does not immediately affect the stock's listing or the company's ability to serve customers.
Wheels Up Experience (NYSE: UP) has scheduled its first quarter 2025 earnings release for Thursday, May 1, 2025. The company will make all earnings-related materials available through their investor relations website at investors.wheelsup.com.
Wheels Up Experience Inc. (NYSE: UP) has appointed John Verkamp as Chief Financial Officer, effective March 31, 2025. Verkamp brings over 20 years of experience from GE and GE Vernova in aviation and power industries, where he most recently served as Vice President and CFO of Gas Power Global Services.
Prior to joining Wheels Up, Verkamp held various financial leadership positions including CFO of Gas Power Commercial and Services, CFO of Avio Aero, and Chief Risk Officer at GE Aviation. CEO George Mattson highlighted Verkamp's appointment as important for the company's business transformation, citing his strategic mindset and ability to drive impactful change.
Eric Cabezas, who served as Interim CFO, will transition back to his role as Senior Vice President of Finance.
Wheels Up (NYSE: UP) reported its Q4 and full-year 2024 results, showing progress in its business transformation. Q4 revenue reached $204.8M with an Adjusted EBITDA loss of $11.3M, while full-year revenue was $792.1M with a net loss of $339.6M.
The company's fleet modernization strategy is underway with 18 new Phenom jets added and 50 legacy aircraft retired in 2024. The December quarter showed the lowest Adjusted EBITDA loss since going public, with December nearly reaching breakeven. Operational metrics improved with a 98% completion rate, though 80% on-time performance faced challenges.
Key developments include John Verkamp's appointment as CFO effective March 31, and securing a new $332M revolving credit facility with Bank of America, backed by Delta. The Q4 Adjusted Contribution Margin improved to 19.3%, driven by a 33% increase in Utility.
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