Core Insights - Wheels Up Experience Inc. reported a revenue of $185.5 million for Q3 2025, a decrease of 4% year-over-year, primarily due to reduced flight revenue from discontinued membership programs [6][9] - The company achieved total gross bookings of $266.6 million, reflecting a 5% increase year-over-year, driven by a 14% growth in on-demand charter offerings [6][9] - The company is focused on fleet modernization, with the Phenom 300 becoming the largest fleet type in revenue service and the Challenger fleet reaching programmatic scale [4][6] Financial Performance - The net loss for Q3 2025 was $83.7 million, or $(0.12) per share, compared to a net loss of $57.7 million in Q3 2024, representing a 45% increase in losses [6][9][18] - Adjusted EBITDA loss was $23.2 million, while Adjusted EBITDAR loss was $19.7 million, both impacted by transitory fleet inefficiencies [6][9] - The company reported a quarter-end liquidity of $225 million, including $125 million in cash and cash equivalents [6][9] Operational Highlights - Wheels Up achieved a completion rate of 99% and an on-time performance of 89%, marking improvements of 1 percentage point and 4 percentage points year-over-year, respectively [7][9] - The company expects nearly 50% of its premium jet fleet to consist of Phenom and Challenger aircraft by the end of 2025, with a complete fleet transition anticipated by year-end 2026 [7][9] - The successful launch of the Signature Membership program has contributed to strong sales, with nearly 20% of total block sales for September and October coming from this new offering [7][9] Strategic Initiatives - Productivity initiatives are projected to exceed the original goal of $50 million, with expected annual run-rate cost savings of $70 million or more starting in Q1 2026 [6][9] - The company raised approximately $50 million in equity capital during Q3 2025 to support its fleet modernization program and general corporate purposes [7][9] - Wheels Up sold three non-core services businesses for $21.5 million, further streamlining operations and focusing on its fleet modernization strategy [8][9]

Core Insights - Wheels Up Experience Inc. has announced a strategic partnership with AtYourJet and Chef Robert Irvine to enhance the in-flight dining experience for its Signature Members, introducing a digital ordering platform and chef-curated menus [1][3][4] Group 1: Partnership and Offerings - The partnership aims to elevate private jet dining standards, providing complimentary dining options for Wheels Up Signature Members and purchasable options for other flyers [1][2] - Two menu tiers will be available: a Complimentary Menu featuring classic favorites and a Premium A La Carte Menu that will rotate seasonally in ten key markets, with plans for expansion [2][4] Group 2: Culinary Expertise and Innovation - Chef Robert Irvine, a long-time Wheels Up member, brings culinary expertise to the collaboration, ensuring that dishes are designed for seamless transition from kitchen to cabin [3][5] - AtYourJet's digital ordering platform and extensive kitchen network will enhance consistency and quality control, addressing a common pain point in private aviation catering [3][5][6] Group 3: Membership Benefits - The new Wheels Up Signature Membership offers year-round access to a premium fleet, with flexible plan options starting at a $200,000 minimum deposit plus a small monthly fee [4] - Members can choose between the Dynamic Access Plan for flexibility and the Fixed Access Plan for consistent rates, along with access to exclusive events and experiences [4] Group 4: Company Background - Wheels Up is a leading provider of on-demand private aviation in the U.S., offering a diverse fleet and a global network of safety-vetted charter operators [7] - AtYourJet, founded in 2022, focuses on high-quality, locally sourced meals and aims to disrupt the private jet catering market with its digital platform [6][8]