- Wheels Up signed an aftermarket support plan with Honeywell Aerospace covering scheduled and unscheduled maintenance for its Bombardier Challenger 300/350 fleet, with fixed-price coverage for avionics, APUs, engines and control systems.
- Wheels Up signed a five-year contract through 2032 with Av8 for Phenom 300 landing gear maintenance, including landing gear overhaul and gear exchange.
- Wheels Up consolidated its fleet to Challenger 300/350 and Embraer Phenom 300 types earlier this year and reported its highest completion rate in Q2.
- Wheels Up reported Q1 2026 net loss of $83 million, an improvement of about 16% from $99 million in Q1 2025, with revenue of $169 million and gross bookings up 10% to $267 million; the results were stated in a shareholder letter dated May 11, 2026.
- Commercial terms of the Honeywell agreement were not disclosed.
Quotes
“the new agreement allows our maintenance team to manage our engines as one fleet rather than an aggregation of individual assets, driving operational efficiency for Wheels Up as operator and Honeywell as maintenance provider.”
“We expect the agreement to support greater maintenance availability as we continue expanding the fleet”