US private aviation provider Wheels Up has narrowed its net loss in the fourth quarter of 2023 to $81.1 million, down from $224.9 million in the same period a year prior. Revenue in the fourth quarter was down from $408.2 million in 2022 to $246.3 million in 2023.
Wheels Up full year net loss narrowed from $555.5 million in 2022 to $487.4 million in 2023. Revenue was down $1.58bn in 2022 to $1.25bn in 2023.
""In our first full quarter since the strategic investment, we have made strong progress on a number of key fronts. Operationally, we continue to drive performance and strengthen our team,"" said Wheels Up CEO George Mattson. ""Commercially, we are rebuilding our sales pipeline, restoring customer confidence, and are seeing strong momentum in our joint efforts with the Delta sales teams.""
The company also announced senior managing director of Certares Management Tom Klein has joined its board of directors.
Wheels Up narrows net loss to $81 million in fourth quarter
