Wheels Up Experience took in $736.5 million in revenue in 2025, down from $792.1 million the year before. At the same time, the private aviation company burned more cash: net cash used in operating activities rose to $166.3 million, against $77.9 million in 2024.
Those figures came out on February 19, 2026, when Wheels Up reported fourth-quarter and full-year results. The company said certain profitability metrics had improved. Its stock price declined after the release.
On April 14, Wheels Up announced a 1-for-20 reverse split of its Class A common stock, effective after the close of trading on April 24, with split-adjusted trading expected to begin April 27. The company said the move was expected to help it regain compliance with NYSE listing standards and meet the criteria for inclusion in the Russell 3000. The shares kept falling after that announcement.
Robbins LLP, a shareholder rights firm, said on July 1, 2026, that it was investigating Wheels Up (NYSE: UP). The firm wants to determine whether certain officers and directors violated securities laws and breached fiduciary duties to shareholders. It has not filed a lawsuit, and the announcement did not describe any specific misconduct.
Wheels Up provides on-demand private aviation in the United States and internationally. Robbins said shareholders who lost money can submit a form to learn about their rights. Representation is on a contingency fee basis, so shareholders pay no fees or expenses. The firm says it has recovered over $1 billion for shareholders since 2002.
