Public (NYSE: UP); reported eight straight quarterly losses; rescued by a Delta-led group (2023) and did a reverse split
Live Β· UPΒ· NYSE
as of 2026-09-17
$3.54βΌ 9.46% today
βΒ $128 Million market cap Β· β93.9% from peak
The rise & fall
7 moments Β· 2013β2023
The key moments, with employee sentiment along the way.
2013
π±
2013
Founded on the membership model
Kenny Dichter pitches private-jet access without owning the jet β pay to join, book the fleet.
Wikipedia
Jul 2021
π
Jul 2021
The peak: a $2.1B SPAC debut$2.1B
Merges with Aspirational Consumer Lifestyle Corp to list on the NYSE β private aviation, SPAC-era pricing.
CNBC
2022
π
2022
Slips out of the club
The model bleeds cash quarter after quarter and members head for the exits.
CNBC
2022β23
π¬
From the inside Β· Glassdoor reviews, 2022β23
Glassdoor reviews from those years described a company straining to digest its acquisitions: employees cited never-integrated systems, an aging fleet dogged by maintenance delays, and a top-heavy structure with more executives than the front line could use.
May 2023
May 2023
Founder Kenny Dichter departs
Eight straight quarterly losses and a customer exodus end with the founder out in a shake-up.
CNBC
2023
2023
Delta leads a ~$500M rescue
A Delta-led group injects roughly $500M and takes majority control of the near-collapsed company; a reverse split follows.
CNBC
Today
Today
Still in the club β and still trading
Live Β· UP Β· NYSEas of 2026-09-17
$3.54βΌ 9.46% todayβ $128M cap Β· β93.9% from peak
π¬ entries paraphrase anonymous, unverified reviews posted publicly on Glassdoor β; dated facts carry their source.
How it happened
Wheels Up let members book flights on a large private-jet fleet, and it went public in July 2021 via a SPAC merger valuing it at $2.1B, with Delta Air Lines a major investor.
The model bled cash: eight straight quarterly losses, a customer exodus and a shake-up that pushed out founder Kenny Dichter brought it to the brink. A Delta-led group injected roughly $500M in 2023 to take control, followed by a reverse split.
