Go Back  Airline Pilot Central Forums > Airline Pilot Forums > Part 135
Wheels Up continues to bleed red ink >

Wheels Up continues to bleed red ink

Notices
Part 135 Part 135 commercial operators

Wheels Up continues to bleed red ink

Old 05-10-2024, 01:00 PM
  #1  
Gets Weekends Off
Thread Starter
 
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,936
Default Wheels Up continues to bleed red ink

https://www.ainonline.com/aviation-n...k?utm_campaign

-1Q revenues plunged by $155M
-$97M quarterly loss
-Cash on hand fell by $80M to $180.8M
-Active members decreased by 25% Year over Year to 9,155
AirBear is offline  
Old 05-10-2024, 03:17 PM
  #2  
Gets Weekends Off
 
Joined APC: Aug 2018
Posts: 178
Default

Originally Posted by AirBear View Post
https://www.ainonline.com/aviation-news/general-aviation/2024-05-10/wheels-continues-bleed-red-ink?utm_campaign

-1Q revenues plunged by $155M
-$97M quarterly loss
-Cash on hand fell by $80M to $180.8M
-Active members decreased by 25% Year over Year to 9,155
I saw on another thread a picture of a bunch of WUP King Airs parked. Made me think....I havent seen any of their King Airs on the ramps in a long time. Problem is who wants to write them a check for a lot of $ to prepay for time when, if they were to file BK, could walk away with the money. Sounds like a death spiral to me.
followingdreams is offline  
Old 05-11-2024, 01:38 PM
  #3  
Gets Weekends Off
Thread Starter
 
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,936
Default

Originally Posted by followingdreams View Post
I saw on another thread a picture of a bunch of WUP King Airs parked. Made me think....I havent seen any of their King Airs on the ramps in a long time. Problem is who wants to write them a check for a lot of $ to prepay for time when, if they were to file BK, could walk away with the money. Sounds like a death spiral to me.

Same here. However Delta is very motivated to keep WU flying. Delta has a huge liability in FF miles for unused hours should WU cease operations.
AirBear is offline  
Old 05-12-2024, 06:03 AM
  #4  
Gets Weekends Off
 
ockham's Avatar
 
Joined APC: Sep 2006
Posts: 112
Default what really needs to be addressed

The cost of operations are above the income on an hourly basis. The revenue per hour is also one of the highest in the industry. Cost control is clearly not a significant skill set of this organization.
ockham is offline  
Old 05-14-2024, 03:48 AM
  #5  
Gets Weekends Off
 
Joined APC: Jan 2014
Posts: 292
Default

I still see their KA's around. But I haven't seen. Citation for quite a while.

Good luck to those still hanging in there.
AA717driver is offline  
Old 05-14-2024, 05:32 PM
  #6  
On Reserve
 
Joined APC: May 2023
Posts: 10
Default

I am not employed there, but I recently spoke to someone who is. I was told that the ongoing consolidation of certificates will eliminate overlap and result in a more efficient operation.
HumbleHawk is offline  
Old 05-15-2024, 06:52 AM
  #7  
Gets Weekends Off
 
Joined APC: Jul 2013
Posts: 462
Default

Originally Posted by AA717driver View Post
I still see their KA's around. But I haven't seen. Citation for quite a while.

Good luck to those still hanging in there.
citations are still as busy as ever, there are a bunch of Xs that mountain originally bought that were never repainted. Plus they have Alante's CJ3s and TMCs hawker 400s.
EMAW is offline  
Old 05-20-2024, 08:22 AM
  #8  
New Hire
 
Joined APC: Apr 2024
Posts: 2
Default

Originally Posted by followingdreams View Post
I saw on another thread a picture of a bunch of WUP King Airs parked. Made me think....I havent seen any of their King Airs on the ramps in a long time. Problem is who wants to write them a check for a lot of $ to prepay for time when, if they were to file BK, could walk away with the money. Sounds like a death spiral to me.
King Airs are parked because of certificate consolidation at CVG, they have 10-15 there undergoing inspection for the move from Gama/Circadian. The rest are plenty busy on both certs.

Costs ought to come down when everyone actually works for the same company, or so says management. Hopefully we get enough time to show that.
m007j is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
AirBear
Fractional
4
12-18-2019 12:51 PM
olkev
Hangar Talk
1
10-05-2009 08:51 AM
SWAjet
Major
0
04-21-2005 03:44 PM
SWAjet
Major
0
03-15-2005 11:37 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices