~ New Wheels Up Pilot Career Link! ~
03-08-2023, 11:14 PM
#51
New Hire
Joined APC: Oct 2016
Posts: 7
Originally Posted by AirBear
https://www.ainonline.com/aviation-n...ource=hs_email
Wheels Up is implementing a restructuring plan that will save $30M. No pilots or other staff directly involved in operations will be laid off.
Wheels Up is implementing a restructuring plan that will save $30M. No pilots or other staff directly involved in operations will be laid off.
03-10-2023, 03:38 PM
#52
Line Holder
Joined APC: Feb 2016
Position: Captain
Posts: 90
Originally Posted by propsareforkids
funny they say that but they gutted Gama management in order to get Mountain management into power, they fired the DO and the training managers on the same day and then laid off a lot of folks the following week. leaving that place a couple of years ago was the best thing I ever did, WUP management doesn't care about safety, they are pushing to upgrade guys that have to PIC experience, only a matter of time before they bend metal (beyond their normal wing scrapes) or worse ... I still have many friends there and just about everyone is looking to leave, definitely not the place to go.
I will add that the upgrade process a friend of mine was trying to go through…. Everyone got sent home…. Another reason for the training management getting sent off into the sunset…. Expectations were varied and unreasonably high between too many different people. Very non-standard, if you will.
03-23-2023, 11:11 AM
#54
Gets Weekends Off
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,912
WU Revenues Surge, but losses widen
https://bjtonline.com/business-jet-n...ource=hs_email
This is a March 2023 Report with details of the year end earnings call. It's not all bad news, that's about the best I can say. They do have a plan to become profitable in 2024.
The next article I'll link is from December 2022 "Calculating the impact of Wheels Up bumpy ride":
https://bjtonline.com/business-jet-n...ups-bumpy-ride
This is a March 2023 Report with details of the year end earnings call. It's not all bad news, that's about the best I can say. They do have a plan to become profitable in 2024.
The next article I'll link is from December 2022 "Calculating the impact of Wheels Up bumpy ride":
https://bjtonline.com/business-jet-n...ups-bumpy-ride
03-24-2023, 02:53 AM
#55
Line Holder
Joined APC: Feb 2016
Position: Captain
Posts: 90
Originally Posted by RomeoWhiskey
Did Wheels up increase their pay? It is one of the lowest in the industry for the amount of hours flown. I talked to one of their King Air pilots and the poor pilot was exhausted, poor, and miserable.
04-04-2023, 08:49 PM
#56
Gets Weekends Off
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,912
2022 losses revised to $555M
https://www.ainonline.com/aviation-n...ource=hs_email
Revised: Lost $555M on revenues of $1.58B. Shares closed down to 56 cents, a 94% loss in value since July 2021. Only good news is they have $500M in cash, enough to sustain the current loss rate for one year.
Revised: Lost $555M on revenues of $1.58B. Shares closed down to 56 cents, a 94% loss in value since July 2021. Only good news is they have $500M in cash, enough to sustain the current loss rate for one year.
04-12-2023, 07:56 AM
#58
New Hire
Joined APC: Oct 2016
Posts: 7
Originally Posted by extra sauce
I know many people (good and bad) working at WU. The negatives for sure outweigh the positives there. How much longer till this place goes TU?
05-09-2023, 02:26 PM
#59
Gets Weekends Off
Joined APC: Jun 2015
Position: Left
Posts: 1,807
Situation ain’t looking too good… Good luck to all involved! Fortunately, plenty of regional (high paying - but avoid Republic with their 3-year payback contract), LCC and legacy jobs out there if you want out of 135/fractionals….
05-09-2023, 08:00 PM
#60
Gets Weekends Off
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,912
Wheels Up CEO steps down
https://www.ainonline.com/aviation-n...ource=hs_email
Kenny Dichter, who founded Wheels UP has bailed out. The company has said they have a plan to be profitable in 2024 so unless that's looking shaky I don't know why he'd leave the company he started. When they mortgaged the jets they owned at a 12% interest rate to have enough cash to last until 2024 there was a note that they had to maintain around $170M cash on hand or be in default. Hope for the best, plan for the worst and get those resumes updated.
Kenny Dichter, who founded Wheels UP has bailed out. The company has said they have a plan to be profitable in 2024 so unless that's looking shaky I don't know why he'd leave the company he started. When they mortgaged the jets they owned at a 12% interest rate to have enough cash to last until 2024 there was a note that they had to maintain around $170M cash on hand or be in default. Hope for the best, plan for the worst and get those resumes updated.
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