Overview

* Wheels Up Q3 revenue down 4% yr/yr, impacted by discontinued member programs

* Net loss widens to $83.7 mln, with adjusted EBITDA loss of $23.2 mln

* Company expects $70 mln in annual cost savings from productivity initiatives

Outlook

* Company expects $70 mln in annual cost savings by Q3 2026

* Wheels Up aims for positive Adjusted EBITDAR in 2026

* Company anticipates fleet modernization completion by end of 2026

Result Drivers

* FLEET MODERNIZATION - Non-recurring fleet modernization expenses and inefficiencies impacted financial results

* MEMBERSHIP GROWTH - Growth in corporate memberships and on-demand charters driven by Delta partnership

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $185.50

Revenue mln

Q3 EPS -$0.12

Q3 Net -$83.70

Income mln

Q3 -$23.20

Adjusted mln

EBITDA

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)