Charter & Fractional
Wheels Up Eyes Profits as Fleet Efficiencies Grow Margins
Revenues stabilize as Q4 adjusted EBITDA loss falls to $11.3 million
Wheels Up Phenom 300 cabin interior
Wheels Up is converting Embraer Phenom 300 aircraft it acquired from GrandView Aviation to its own livery.

Wheels Up is targeting further improvements in operating margins in 2025 as it steps up the renewal of its business aircraft fleet. In fourth-quarter results announced on Tuesday, the private flight provider highlighted its highest-ever adjusted contribution margin of 19.3% on a $39.6 million contribution, while driving its adjusted EBITDA loss down to $11.3 million on $204.8 million revenues, which have increased sequentially for the first time in the past seven quarters.

However, the fourth quarter also saw net loss widen by 8% year over year to $87.5 million as revenues dipped from the $246 million a year earlier.