Strong operational performance and increased efficiencies contribute to sequential margin and profitability improvement ATLANTA , Aug. 8, 2024 /PRNewswire/ -- Wheels Up Experience Inc. (NYSE: UP ) today announced financial results for the second quarter, which ended June 30, 2024.
Second Quarter 2024 Highlights Revenue decreased to $196 million , driven by the divestiture of non-core assets and our focus on more profitable flying Adjusted Contribution Margin increased year over year to 7.8% Net loss improved year-over-year to $97 million Adjusted EBITDA improved year-over-year to a loss of $37 million "Over the past year, we've taken vital steps towards realizing our vision of building Wheels Up into a true innovator in private aviation. Our work this quarter further solidified our position at the forefront of delivering integrated global aviation solutions that seamlessly combine the previously separate ecosystems of private and commercial travel," said George Mattson , Chief Executive Officer.
"We made great strides towards the structural changes that are necessary to build a sustainable business model. We continued to invest in operations to ensure we have a high-performing, reliable product. We enhanced our product portfolio to offer unparalleled value across our programmatic member and global charter offerings alike, and we continued to build on the one-of-a-kind strategic partnership with Delta Air Lines.
" "The initiatives we have taken over the past year to strengthen .