Wheels Up has announced a 113% increase in revenue year-over-year to $285.6 million during the second quarter, which ended June 30, 2021. Adjusted EBITDA improved by $7.6 million year-over-year to negative $(8.5) million.
The company reports a 47% increase in active members to 18,234 and a 146% increase in live flight legs to 18,234 in total.
"The accelerating growth in our revenue is a great way to mark our first reported results as a public company and creates a solid foundation to build upon," said Kenny Dichter, Wheels Up Chairman & CEO. "Our iconic brand, combined with our compelling membership model and exclusive partnerships and experiences, have uniquely positioned us to gain market share during this time of robust demand. As always, I want to recognize our hardworking team for their tireless efforts and thank our loyal Members and Customers for their trust in us."
"The demand in the first half of the year has increased across all cabin classes and our diverse fleet of aircraft is contributing to our success in attracting new Members, retaining existing Members and driving an increase in live flight legs," said Eric Jacobs, Wheels Up Chief Financial Officer. "Our strategic initiatives are resonating with Members and Customers, and we believe that our investments in operations, technology, product development and customer service will help ensure a premium experience and drive future operating efficiencies.