Company: UP
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001819516-25-000044
Chunk: 160

Company: Wheels Up Experience Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 160
---
 strategic business initiatives.

37

(4)Consists of expenses associated with establishing the Atlanta Member Operations Center and its operations primarily including redundant operating expenses during the transition period, relocation expenses for employees and costs associated with onboarding new employees. The Atlanta Member Operations Center began operating on May 15, 2023.

(5)Consists of expenses incurred to execute the consolidation of our FAA operating certificates, primarily including pilot training and retention programs and consultancy fees associated with planning and implementing the consolidation process.

(6)Consists of amounts recovered on Parts and supplies inventory reserved during prior periods related to Parts and supplies inventory deemed in excess after revision of future business needs associated with strategic business initiatives, including fleet modernization.

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 June 30,20252024% ChangeTotal Gross Bookings(1)$261,948 $265,346 (1)%Private Jet Gross Bookings(1)$208,326 $216,843 (4)%Live Flight Legs11,97112,855(7)%Private Jet Gross Bookings per Live Flight Leg$17,403 $16,868 3 %Utility(2)41.137.410 %Completion Rate98 %98 %n/mOn-Time Performance (D-60)88 %91 %n/mSix Months Ended June 30,20252024% ChangeTotal Gross Bookings(1)$503,850 $490,020 3 %Private Jet Gross Bookings(1)$413,619 $408,606 1 %Live Flight Legs22,86624,609(7)%Private Jet Gross Bookings per Live Flight Leg$18,089 $16,604 9 %

__________________

(1)    Amount shown in thousands.

(2)    For the three months ended June 30, 2025, Utility for the Embraer Phenom 300 series and Bombardier Challenger 300 series aircraft in our controlled fleet were 49 and 54 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 June 30, 2024.