Sarah Rose (they/them) is a news writer and reporter for AIN. 
Prior to AIN, Sarah worked as a journalist for Georgia Public Broadcasting, Georgia&#039;s statewide NPR and PBS affiliate. They have also worked for several national nonprofits and as a legislative assistant in U.S. Congress. As an openly nonbinary reporter, they are a proud member of the Trans Journalists Association. 
Sarah is a 2012 graduate of Kennesaw State University.

News Writer

Sarah Rose

Wheels Up Experience's fourth-quarter revenue decreased by $162 million year-over-year, to $246 million, but the company did stem its losses by 64 percent, the company said today during an&nbsp;earnings call.
"We made significant progress over the past quarter to improve our business for a sustainable future," said CFO Todd Smith. "We are continuing to optimize our cost structure and fleet to focus on profitability. With improving liquidity in the fourth quarter and our partnership with Delta, we believe we are well positioned to continue to invest in our business for the long term."
The company touted its partnership with Delta Air Lines, as well as $40 million of investor capital from Kore Capital and Whitebox Advisors.
Wheels up also recently&nbsp;<a href="https://www.ainonline.com/aviation-news/air-transport/2024-02-06/wheels-announces-new-coo-operational-team">restructured its executive leadership team</a>. &nbsp;Former chairman of operations Dave Holtz last month was promoted to COO. Prior to his time at Wheels Up, Holtz ran the operations and customer center at Delta Air Lines, which owns a substantial stake in Wheels Up.
Meanwhile, the company reported that flight-related revenue for the full year rose 30 percent, to $1.2 billion.
Wheels Up said it is hoping to increase its profitability via a higher mix of charter and corporate flying, cost reductions, a stabilization of its deferred revenue balance, and normalization of working capital.
"In our first full quarter since the strategic investment, we have made strong progress on a number of key fronts. Operationally, we continue to drive performance and strengthen our team. Commercially, we are rebuilding our sales pipeline, restoring customer confidence, and are seeing strong momentum in our joint efforts with the Delta sales teams," said CEO George Mattson.&nbsp;
According to Wheels Up, it has already seen increased customer service satisfaction scores and improvements from streamlining operational costs.&nbsp;
The earnings call comes after Delta previously led a consortium of investors to rescue it from reported financial troubles. In a 2023 financial filing, the air charter company reported a working capital deficit of $720.8 million. Delta previously owned a minority stake in the company. 
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News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

Wheels Up Revenues, Losses Fall in Fourth Quarter

Total revenues decreased 40% but company stemmed loss by 64%

Wheels Up Experience announced their fourth quarter earnings on a call on Thursday morning. While total revenue decreased $162 million year-over-year to $246 million, the company did stem the year-over-year loss by 64%. 

Wheels Up Revenues, Losses Fall in 4Q

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