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Dec 31, 2023
Wheels Up Q4 2023 Earnings Report
Wheels Up experienced a decrease in revenue but improved net loss and Adjusted EBITDA due to operational improvements and strategic repositioning.
Key Takeaways
Wheels Up reported a decrease in total revenue to $246 million, primarily due to the divestiture of the Aircraft Management business. However, the company saw a significant decrease in net loss to $81 million and an improvement in Adjusted EBITDA loss to $38 million, reflecting operational efficiency and cost reduction efforts. The company added $40 million of investor capital and introduced the new UP for Business program.
Total revenue decreased by $162 million year-over-year to $246 million, influenced by the divestiture of the Aircraft Management business.
Net loss decreased year-over-year to $81 million, primarily due to the absence of a goodwill impairment charge.
Adjusted EBITDA improved year-over-year to a loss of $38 million, reflecting operational efficiency and cost reduction efforts.
Active Members decreased 21% year-over-year to 9,947.
Revenue by Segment
Forward Guidance
Wheels Up is focused on optimizing cost structure and fleet to focus on profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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