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Wheels Up Sees Higher Revenue in Q4 But Also a Net Loss
The New York–based private-lift company now has 12,040 active members.
Private-lift membership company Wheels Up increased revenue and added members but also reported a net loss in the fourth quarter of 2021, the New York–based firm recently announced. During the period, revenue increased 64 percent year-over-year to $345 million while the number of active members grew 31 percent to 12,040.
Wheels Up chairman and CEO Kenny Dichter added that more members are making longer-term commitments to the company, which is “giving us clear revenue visibility for the year ahead and the confidence to invest in our growth while absorbing short-term margin pressures.”