Wheels Up Q3 Revenue Falls 11% as Signature Fleet Takes Lead
ATLANTA – November 05, 2026 -- Wheels Up Experience Inc. (NYSE:UP) cut its adjusted EBITDAR loss by 44% to $13.2 million in the third quarter of 2026, even as GAAP revenue fell 11% year-over-year to $164.8 million. Delta Air Lines separately committed an additional $100 million revolving credit facility to the company.
Premium fleet revenue climbs 120% while legacy programs wind down
Private Jet Flight revenue declined 7% to $143.9 million. Revenue from premium Phenom and Challenger aircraft rose 120%, outpacing 79% fleet growth in those types, from 24 to 43 aircraft. Legacy fleet revenue dropped 44% as the company retires those programs. About 3 points of the total revenue decline stemmed from the 2025 sale of non-core services businesses.
Total Gross Bookings fell 15% to $225.4 million, mainly on lower group charter, cargo and on-demand charter volume.