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Dec 31, 2024
Wheels Up Q4 2024 Earnings Report
Wheels Up reported a revenue decline but improved operational efficiency in Q4 2024.
Key Takeaways
Wheels Up reported Q4 2024 revenue of $204.8 million, a 17% year-over-year decline. The company posted a net loss of $87.5 million, with an EPS of -$0.13. Adjusted EBITDA loss improved to $11.3 million from $38.1 million in Q4 2023. Live flight legs decreased by 11%, while revenue per live flight leg remained relatively stable.
Revenue declined 17% year-over-year to $204.8 million.
Net loss widened to $87.5 million, with EPS of -$0.13.
Adjusted EBITDA loss improved to $11.3 million from $38.1 million last year.
Live flight legs declined by 11% to 12,731.
Wheels Up
Wheels Up
Wheels Up Revenue by Segment
Revenue by Segment
Flight Revenue
CapyFin.comMembership Revenue
CapyFin.comOther Revenue
CapyFin.com Forward Guidance
Wheels Up aims to continue improving operational efficiency and profitability in 2025, supported by fleet modernization and strategic partnerships.
Positive Outlook
- Fleet modernization with new Phenom and Challenger jets expected to improve efficiency.
- Operational performance improved, with a 98% flight completion rate.
- Partnership with Delta continues to expand commercial aviation solutions.
- New credit facility enhances liquidity and capital structure.
- December month performance nearly breakeven, indicating financial improvement.
Challenges Ahead
- Active memberships declined 46% year-over-year.
- Revenue declined 17%, reflecting lower flight demand.
- Live flight legs decreased by 11%, impacting scale efficiency.
- On-time performance dropped to 80% from 87% in Q4 2023.
- Ongoing restructuring and fleet transition costs continue to weigh on profitability.
Revenue & Expenses
Visualization of income flow from segment revenue to net income