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Wheels Up Reports Growth in Premium Fleet Revenue

Sun, Nov 08, 2026

Wheels Up Reports Growth in Premium Fleet Revenue

Wheels Up’s premium Phenom and Challenger operation generated 120% more revenue year over year during the third quarter, even as overall company revenue declined.

Results released on 5 November showed total revenue of $164.8 million, down 11%. Private jet flight revenue fell 7% to $143.9 million as the company continued winding down legacy programmes.

The premium fleet expanded from 24 to 43 aircraft compared with the previous year. Signature fleet revenue and memberships surpassed their legacy equivalents for the first time, marking a significant point in the company’s transition.

Gross profit reached $15.2 million, while the adjusted EBITDAR loss narrowed by 44% to $13.2 million. The company nevertheless reported a wider net loss of $89.4 million.

For NVOII readers, the results show improving performance within Wheels Up’s chosen fleet strategy alongside continuing financial pressure. Management aims to complete the withdrawal of legacy membership programmes during 2027 while increasing utilisation and productivity across the premium operation.

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