Charter & Fractional
Wheels Up Reports Record Revenues, Large Losses in 1Q22
Wheels Up Q1 revenues topped $325 million, but it lost $89 million in the process.

Private aviation company Wheels Up posted a 24 percent year-over-year revenue jump, to $325.6 million, in the first quarter, but it came at the price of a net loss of $89 million, an increase of $56.8 million year-over-year. Adjusted earnings before interest, taxes, depreciation, and amortization decreased by $40.8 million year-over-year, to a $49.4 million loss. Meanwhile, the company's number of active members rose 26 percent year-over-year, and live flight legs climbed by 15 percent, to 17,626.