Company: UP
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049230
Chunk: 172

Company: Wheels Up Experience Inc.
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 172
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 of future business needs associated with strategic business initiatives, including fleet modernization.

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Key Operating Metrics

In addition to financial measures, we regularly review certain key operating metrics to evaluate our business, determine the allocation of resources and make decisions regarding business strategies. We believe that these metrics can be useful for understanding the underlying trends in our business.

The following table summarizes our key operating metrics:

Three Months Ended September 30,20252024% ChangeTotal Gross Bookings(1)$266,627 $255,102 5 %Private Jet Gross Bookings(1)$209,695 $204,289 3 %Live Flight Legs11,593 12,776 (9)%Private Jet Gross Bookings per Live Flight Leg$18,088 $15,990 13 %Utility(2)43.1 38.1 13 %Completion Rate99 %98 %1 ppOn-Time Performance (D-60)89 %85 %4 ppNine Months Ended September 30,20252024% ChangeTotal Gross Bookings(1)$770,477 $729,965 6 %Private Jet Gross Bookings(1)$623,314 $597,738 4 %Live Flight Legs34,459 37,385 (8)%Private Jet Gross Bookings per Live Flight Leg$18,089 $15,989 13 %

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(1)    Amount shown in thousands.

(2)    For the three months ended September 30, 2025, Utility for the Embraer Phenom 300 series, Bombardier Challenger 300 series and legacy fleet aircraft in our controlled fleet were 56, 53 and 40 hours, respectively.  We did not have any Embraer Phenom 300 series or Bombardier Challenger 300 series aircraft in our controlled fleet during the three months ended September 30, 2024, and Utility for that period reflects the legacy fleet aircraft that we operated during that period.

Total Gross Bookings and Private Jet Gross Bookings

We define Total Gross Bookings as the total gross spend by our members and customers on all private jet flight services under our membership program and charter offerings, all group charter flights, which are charter flights with 15 or more passengers (“Group Charter Flights”), and all cargo flight services (“Cargo Services”).  We believe Total Gross Bookings provides useful information about the scale of the overall global aviation solutions that we provide