Changes at Wheels Up?
01-15-2023 | 05:02 PM
#1
Thread Starter
Baker Aviation Citation X
Joined: Mar 2005
Posts: 417
Likes: 80
From: Citation X
Changes at Wheels Up?
Was told today (from a non WU pilot) a letter from WU management was sent to all pilots seeking volunteers who would be interested in going to a part-time status (8/20 days) with no benefits.
Anyone wish to confirm, correct or deny the essence of this rumor? I won’t speculate on the reasons why but wondering if it is true.
thanks in advance for the answer.
Cheers
Anyone wish to confirm, correct or deny the essence of this rumor? I won’t speculate on the reasons why but wondering if it is true.
thanks in advance for the answer.
Cheers
01-15-2023 | 06:42 PM
#2
Gets Weekends Off
Joined: Dec 2017
Posts: 2,014
Likes: 1
From: Retired NJA & AA
I have no knowledge but it wouldn't surprise me. They're targeting over 65 pilots and/or pilots that have spouses with family medical.
I hope I'm wrong but I get the feeling WU isn't going to be around too much longer. They've already mortgaged the planes they owned and had to pay a 12% interest rate even with the planes as collateral. Terms of the loan require WU to keep around $170M on hand. They don't expect to turn a profit until 2024 and are trying to get enough $$$ to get them thru until then.
I hope I'm wrong but I get the feeling WU isn't going to be around too much longer. They've already mortgaged the planes they owned and had to pay a 12% interest rate even with the planes as collateral. Terms of the loan require WU to keep around $170M on hand. They don't expect to turn a profit until 2024 and are trying to get enough $$$ to get them thru until then.
Was told today (from a non WU pilot) a letter from WU management was sent to all pilots seeking volunteers who would be interested in going to a part-time status (8/20 days) with no benefits.
Anyone wish to confirm, correct or deny the essence of this rumor? I won’t speculate on the reasons why but wondering if it is true.
thanks in advance for the answer.
Cheers
Anyone wish to confirm, correct or deny the essence of this rumor? I won’t speculate on the reasons why but wondering if it is true.
thanks in advance for the answer.
Cheers
01-17-2023 | 08:15 AM
#4
Thread Starter
Baker Aviation Citation X
Joined: Mar 2005
Posts: 417
Likes: 80
From: Citation X
Great news!
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