Wheels Up ExperienceNYSE: UP

Wheels Up Experience Inc. (NYSE:UP ) Q3 2023 Earnings Conference Call November 9, 2023 10:00 AM ET Company Participants Keith Ferguson - Investor Relations George Mattson - Chief Executive Officer Todd Smith - Chief Financial Officer & Interim Chief Executive Officer Conference Call Participants Operator Welcome to Wheels Up Third Quarter 2023 Earnings Conference Webcast. It is my pleasure to introduce Keith Ferguson.

NEW YORK , Nov. 9, 2023 /PRNewswire/ -- Due to a vendor issue beyond our control, today's live webcast was not accessible for listeners.  The event replay is now accessible via the Events & Presentations page of our Investor Relations website.

As more businesses take on a monthly subscription model to offer their services, even private jets are getting the membership treatment, with Wheels Up bringing more corporate customers into the fold. The on-demand private aviation company announced Tuesday (Oct.

As cash burn continued and concerns escalated on Wheels Up's ability to continue as a going concern, shareholder Delta Air Lines and its investing affiliates came to the rescue with up to U.S. $500M in new financing.

Wheels Up Experience, a company that charters private jets, announced a deal to give up nearly all of its stock to a trio of lending partners in exchange for a $500 million lifeline.

Ailing private aviation services provider Wheels Up Experience avoids bankruptcy at the price of massive dilution for existing equity holders. Strategic partners Delta Air Lines, Certares Management, and Knighthead Capital to provide an aggregate $500 million in new credit facilities. On a fully-diluted basis, the proposed transaction has caused enterprise value to jump by more than 400% from Monday's close to approximately $1.5 billion despite ongoing deterioration in the business.

Without ever making a profit, private aircraft travel company Wheels Up (WUP) now warns of substantial doubt about its ability to continue operations

NEW YORK , June 5, 2023 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP), the leading brand in private aviation, today announced that Todd Smith, CFO and Interim CEO, will present at the Jefferies Virtual Business Aviation Summit on Tuesday, June 13, 2023 at 10 am ET. The event will be webcast live and can be accessed via the Events & Presentations page of our  Investor Relations website.

Wheels Up is not the only private aircraft charter company that has had consecutive losses over the years, as revelations of VistaJet Global finances emerge.