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Keith Ferguson | executive |
George Mattson | executive |
Eric Cabezas | executive |
Welcome to Wheels Up's Third Quarter 2024 Earnings Conference Webcast. It is my pleasure to introduce Keith Ferguson. Mr. Ferguson, you may begin the conference.
Thank you. our results. announced we morning, third quarter This The as can a with its wheelsup.com/investors. be as well supporting tables at copy website on Investor earnings our release found Relations of today's presentation
slide refer on may These differ actual based forecasts statements with Please be current the our Today's estimates forward-looking our future presentation of expectations results considered materially. disclaimer. and should statements contains events. and to only,
to all During guidelines. non-GAAP today's statement-related we today's our refer financial SEC be noted, be will release outlined to presentation. non-GAAP will revenue. Unless appendix as measures definitions financial otherwise than of measures and earnings and measures found metrics Reconciliations income key financial GAAP measures financial can by the other in and of tables webcast, non-GAAP non-GAAP operating of of financial
And George with Executive Chief it that, turn to I'd Wheels over Up's to like Mattson. Officer,
just today. I joining invested into Thank in of you clear through Board Delta with as you, partnership for Delta my Up one accessible vision: a seamless, to Airlines. and all and and role Keith, CEO When Delta and off the over of us year thanks Wheels stepped combine it ecosystems of the a strategic private aviation and flexible Up Wheels offering do to into a separate one-of-a-kind premium profitably commercial To with ago,
world. company in the bold guide operator our to in ambition starts efforts, the of a best-run start outlined the the private we industry. At aviation tenure, my with the becoming best That being
customers. improvement while building transparency fortified a team has operational business year, trust our through and built last continuous unmatched we've best-in-class the with our Over providing that
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sequentially growth new over demand October. operational focused We versus flat to drive year. look improvement quarter leg That resume efficiency we the has and live in continued was XX%. remain industry performance, on margin to as the of in decline in outperformance Our an month the of continuing
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once progress achieving have we toward made meaningful goal. quarter, This again that
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over the that million. the of to quarter will continuation block Part success increased momentum sales $XXX this depend with we on commercial of saw year-over-year up XX%
highest We mix of in years since month That's that initiative, our tracking best the block Delta sales sales we representing accounts are Delta strong corporate traction joint the of of over performance in started terms September. seeing with data. X overall monthly in the
announcements our in recent the into interest fourth XXXX. and quarter momentum strong and customer drive to fleet expect We continued commercial
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in become aircraft, provider the expect on to Phenom of largest With GrandView basis world. on-demand an we aircraft the the
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charter both with begin routes early our on specified operating next Challengers year, availability expect We our fleet and for basis on as-requested members. in an by to
our of Like years. across offering end line, to our within Full our expect transition time the Phenom into transition Challengers the expected programmatic guaranteed approximately complete we areas XXXX. X introduction to by is service the
to financing puzzle, enable actions fleet turn complete final I want well transactions as the these to our transition. the to as to piece comprehensive the Lastly, future of
of anticipates The commitment We have company GrandView November. secured the million $XXX into America credit concurrently of facility. the closing new a entered revolving Bank by a facility for close revolving end letter that senior with will to the acquisition up with of the
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we as partnership to be our available. we fleet otherwise the to commitment for has implications as capital transformation the long-term strategy. Airlines fleet financing, the to plan. is to agreed than our credit our backing underpin and have our and are terms Delta support enhancing provide further their would progress on access date well execute our strength attractive financial This Delta's new testament of us, made and The extensive commercial the and as operational, Highlighting modernization of strategy a confidence on planned more to in
well-known replacement our in improvement a availability, this margins we are our the business profit reliability of reduction significant the the will that our for in go the of expect their industry greater and transformed fleet aircraft driving of improvement average we in is performance types and instrumental selection be our detail, Eric into ahead, Looking operational operational efficiency. the improved and enable exceptional of profitability continue drive over in dramatically age to all higher an unit lower and but customers. anticipated aircraft step-change as economics in for enable invest and maintenance experience to utilization expected next years costs, which operating several our cost the of transform per change to aircraft, will
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we is as what model and as our Enterprise Meaghan the Customer we have X strengthened Experience. to hires: also the EVP the the I future, SVP, key Legal and Wells Chief Planning with in of our in already have best Matthew believe industry team As Michael resiliency business and of Strategy; Knopf, strengthen Officer; invested Henny continued
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that positive momentum impact all George. It have in great topics: business; existing best-run on America on our four, how the and expected our build is you with our modernization continued Thanks, one, debt, review transaction will aviation third quarter journey results, business; three, we refinance liquidity balance add private the two, the Bank our remarks, to In of to GrandView my in today. our will to X sheet; and to and finance the aircraft our a fleet is I our be confidence of company. believe including transaction focus our the
the of the of Starting flat $XXX in our of with in review stability QX, was third Revenue quarter quarter a roughly the first sequentially, this highlighting starting million year. business results.
have flight As aircraft exit previously, was the our our sales last changes mentioned year's operations, of our unprofitable we year-over-year the aircraft us and to exit impacted businesses simplification that the including program comparison by allowed management of revenue. and
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concludes very This you conference. joining. much today's Thank for all
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