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Wheels Up Sees Record Q2 Revenue Growth

Wheels Up announced a revenue increase of 113% year-over-year for the second quarter of 2021, reaching $285.6 million. The number of active members also showed strength, with an increase of 47% year-over-year.Wheels Up, a private aviation charter and aircraft ownership services company, became the first private aviation operator on the New York Stock Exchange in July of this year."The accelerating growth in our revenue is a great way to mark our first reported results as a public company and creates a solid foundation to build upon," said Kenny Dichter, Wheels Up Chairman andamp; CEO.Demand increased in the first half of the year across all cabin classes according to Eric Jacobs, Wheels Up Chief Financial Officer. In fact, live flight legs increased by 146% compared to this time in 2020, with COVID-19 impacting the previous year's results. The pandemic may also be impacting 2021's numbers with increased utilization of private charter companies across the industry.The company is focused on building the leading demand generation platform for private aviation and connecting travel demand with fragmented and underutilized assets while continuing to improve customer experience. This increase in both demand and supply drives more liquidity in the marketplace.
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