- $168.9m revenue, down 5% compared with the first quarter of 2025.
- Wheels Up jet fleet doubles year-on-year to 36 Challengers and Phenom 300s, replacing Hawker 400XPs and Citation Xs.
- Delta-led loan for $100m, plus Sankaty Jet Capital providing mezzanine financing worth $165m.
- Total gross bookings — including off-fleet charter — up 10% year-on-year to $267.2m.
- Adjusted EBITDAR loss of $18.3m, a 2% improvement on last year.
Wheels Up posted a net loss of $83m in the first quarter of 2026, on revenue of $168.9m. This was down 5% compared to the same quarter last year, as the company completed its fleet overhaul 18 months ahead of schedule.
“We’ve crossed the inflection point,” George Mattson, CEO, Wheels Up, told Corporate Jet Investor (CJI). “We’ve gotten to the other side of…
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