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NEW YORK - November 10 , 2021 - Wheels Up Experience Inc. ( NYSE : UP ) today announced financial results for the third quarter , which ended September 30 , 2021 . Third Quarter 2021 Highlights ● WHEELS UP Wheels Up Announces Record Revenue for Third Quarter 2021 Company Continues to Invest in its Marketplace Platform ● ● Revenue increased 55 % year - over - year to $ 302.0 million Active Members grew 45 % year - over - year to 11,375 in total Live Flight Legs increased 52 % year - over - year to 19,714 in total Adjusted EBITDA decreased by $ ( 15.9 ) million year - over - year to $ ( 23.9 ) million " I am pleased to report another quarter of record revenue , which offers further evidence that the work to expand our fleet offerings , invest in our iconic brand , and serve our high value customers is setting us apart . " said Kenny Dichter , Wheels Up Chairman & Chief Executive Officer . " Our supply constraints are no different than what many companies are facing today , and reinforces the need for the technology - enabled marketplace platform that we are building . In the meantime , however , it's imperative that we continue our investments to deliver the best experience possible for every customer . I want to express my appreciation to our extraordinary team for their relentless dedication to the operation and their passion for our Members and Customers . In turn , I also want to thank our Members and Customers for their loyalty and trust . ' " We are steadfastly committed to serving and investing in our growing base of loyal Customers , even as the state of the industry has brought unique and unprecedented challenges , " said Eric Jacobs , Wheels Up Chief Financial Officer . " We are managing through these challenges and the near - term impact they are having on our margins , and believe we can significantly increase margins in the long - term . " Recent Initiatives Commenced strategic relationship with American Express , offering their members exclusive benefits . The partnership has driven strong new flight activity , membership purchases , and fund block purchases as well as a significant increase in mobile downloads during the quarter . Accelerated success in selling " UP for Business , " which has benefited from the commercial relationship with Delta Air Lines that gives businesses the flexibility to fly both commercial and private as well as access a diverse range of aircraft to fit their varying needs . Announced new capped rate pricing and program changes for our membership programs , which will take effect on December 1 , 2021 . Enhanced the senior leadership team with the appointment of Vinayak Hegde to President on October 5 , 2021 as well as the hiring of a Gene McKenna as Chief Product Officer ; Srikanth Satya as Chief Technology Officer ; and Julia Zhang as SVP of Pricing and Revenue Management . 1