Wheels Up to Buy Six Embraer Phenom 300E Aircraft

Wheels Up said it agreed to purchase six Phenom 300E aircraft from Embraer. The company expects delivery in the second half of 2027.

Key details

• Wheels Up said it will finance most of the acquisition through its existing aircraft facility with Bank of America, with mezzanine financing from Sankaty Jet Capital.
• For the third quarter of 2026, Wheels Up reported revenue of $164.8 million and private jet flight revenue of $143.9 million.
• The company reported a 16.4% adjusted contribution margin, up 370 basis points year over year, and gross profit of $15.2 million, compared with a $1.3 million gross loss in the third quarter of 2025.
• Wheels Up said Signature revenue grew 120% during the quarter, while legacy revenue declined 60%. Signature accounted for 51% of the relevant revenue mix.
• The company said Signature programme membership grew 130% year to date and exceeded legacy memberships during the quarter.

Wheels Up expects the six Phenom 300E deliveries in the second half of 2027.

Why it matters

The purchase adds six light business jets to Wheels Up’s fleet plan, with the company linking most of the financing to an existing aircraft facility. Its quarterly figures also show a shift in its revenue mix toward Signature, whose membership exceeded legacy membership during the quarter.