Wheels Up regains NYSE listing compliance
Private aviation company Wheels Up announced that it has successfully regained compliance with the New York Stock Exchange (NYSE) continued listing standard for minimum share price.
“We are pleased that in just over a month since receiving a continued listing standard notice, we have regained full compliance with NYSE listing standards through market-driven stock appreciation,” said George Mattson, Wheels Up’s chief executive officer.
On June 2, 2025, Wheels Up received written confirmation from the NYSE that, as of May 30, 2025, Wheels Up’s common stock had a closing share price of at least $1.00, it had maintained an average closing share price of at least $1.00 over the 30 trading-day period ending on that date, it is no longer considered to be below the minimum share price requirement.
“This milestone reflects growing investor confidence in our continued progress in executing our business transformation and long-term strategy. Our current market capitalisation of approximately $1bn reflects the scale and strength of our company. As we continue making progress toward sustainable profitability and a strong balance sheet, our focus remains on delivering best-in-class experiences on every flight for our customers,” said Mattson.
In its first quarter 2025 results announcement, Wheels Up reported a decline of 10% year-over-year in revenue citing seasonal slow start of the year despite 8% growth in total gross bookings during the quarter.
While revenues narrowed, the company was able to post a significant improvement in its gross loss. During the quarter, it improved the gross loss from -$16.5m in first quarter of 2024 to just -$1m in 2025. This was underpinned by sizable contraction in the cost of revenue which declined to $158m from $198.3m.
