Charles Alcock is managing editor of the AIN Media Group, having rejoined the company in 2019. He has been an aviation journalist since 1986, and previously worked for AIN from 1990 to 2017, most recently as editor-in-chief. His main focus is on covering new aviation technology and business models, as well as international news.
Having been raised in the London area, Alcock studied at the University of Manchester in the UK and earned an honors degree in Politics and Modern History. He speaks English and French, and some German.

Managing Editor

Charles Alcock

Private flight provider Wheels Up is targeting further sales growth from premium Signature Membership products it launched last year. Reporting fourth-quarter financial results on Thursday, company CEO George Mattson said that increased revenues from this source, combined with further growth in charter flight bookings and efficiencies achieved from rationalizing its fleet, should mean it achieves “a sustainably profitable business model” by year-end.
The last three months of 2025 saw Wheels Up establish a mix of 600 new and existing members in the Signature Membership program through which they are guaranteed access to Embraer Phenom 300s and Bombardier Challenger 300s. This involved what the company called “a planned exit from unprofitable flying” through a transition that partly explained a 10% dip in revenues from the same period in 2024, to $184 million, as customers migrated from flights on its legacy fleet.
Wheels Up expects to have completed the transition to the Phenom and Challenger fleet by year-end. By then, the company aims to have repainted around half of these aircraft, as well as complete cabin interior refits that include the installation of streaming-quality connectivity systems.
During the fourth quarter, Wheels Up achieved the first positive EBITDAR in its history—a figure that Mattson said provides a balanced assessment of its membership and charter businesses and provides confirmation that the company is moving in the right direction. Factoring in $20 million higher cost savings than had been targeted, the company achieved a net loss of $28.9 million for the quarter, representing a 67% year-over-year improvement.
Mattson said that around 80% of legacy customers have now moved to Signature Membership, including a mix of individuals and companies. He said the new program has also attracted customers returning to Wheels Up.
Membership clients pay a monthly fee of $500, and make deposits to cover flight hours of $200,000, $500,000, or $1 million. Based on the size of the deposit made, members of the company's Fixed Plan can travel with flight-hour rates ranging from $8,695 for a Phenom to $13,495 for a Challenger.
For charter flights, Wheels Up logged growth for international trips, which yielded $55 million in revenues during the fourth quarter—a 14% increase on the same period in 2024. “International charter growth reflects increasing customer confidence in Wheels Up’s ability to deliver reliably across borders, reinforcing our position as a global aviation solutions provider, not just a domestic private jet operator,” Mattson commented.
<h2>Smoother Operations</h2>
According to Wheels Up, improvements in operational performance also contributed to reductions in the group’s net loss. The company reported a 1-point improvement to log a 99% completion rate—the percentage of scheduled flights operated and completed, excluding customer-initiated cancellations. On-time performance improved by 4 points to 91% based on flights that departed within 60 minutes of planned departure.
Over the same three-month period, the operations team achieved 24 of what Wheels Up calls “Brand Days,” when there are no flight cancellations across the fleet. These included six of the seven busiest days during the holiday season in December. Consolidating the fleet around two aircraft types is already yielding savings in maintenance costs and reducing flight disruption due to technical issues, the company said.
In late January, Wheels Up announced the merger of all its <a href="https://www.ainonline.com/aviation-news/business-aviation/2026-01-27/wheels-streamlines-brand-and-service-delivery">private aviation products</a> into a combined brand and organizational structure. The unified sales and operations teams now handle all aspects of customer travel needs, regardless of whether these are delivered through the membership program, ad hoc charter arrangements previously handled through its Air Partner subsidiary, or via the company’s alliance with its main shareholder, Delta Air Lines.
The change is contributing to cost reductions through a downsized headcount in the organization. However, Mattson said the main motivator is to improve the customer experience and service delivery.
“We had Air Partner sales separate from Wheels Up, and there was a disconnect in service delivery,” he told AIN. “Now everything is organized by region and industry vertical [e.g., sports and financial services], which is how Delta operates. We have put all the functions together so the customers know who their team is. We are already seeing a different experience in the first few weeks with fewer handoffs, tighter arrangements for ground services, and clearer notifications.”
For the 12 months through December 31, Wheels Up’s total gross bookings were flat at $1.04 billion, of which $833.9 million were for private jet flights, as opposed to airliner charters booked through Air Partner, and representing a 3% increase. The number of live flight legs last year dropped by 11% to 44,694 as part of the move away from “unprofitable flying,” while the gross booking amount per private jet flight averaged $18,658, a 15% increase over 2024.
Wheels Up ended the fourth quarter with liquidity of $234 million, including $134 million in cash and cash equivalents and an undrawn revolving credit facility of $100 million. The company is restructuring its fleet through sale and leaseback arrangements.

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