An aircraft from Wheels Up's fleet [Credit: Wheels Up]
Key Takeaways:
Wheels Up confirmed layoffs affecting an estimated 11% to 20% of its pilots, effective immediately.
The company attributed the layoffs to a "staffing imbalance" caused by a sharp decline in pilot attrition, requiring alignment of its pilot roster with the current fleet size.
These personnel reductions occur as Wheels Up continues to report financial losses despite a significant funding package and new management, though it aims for profitability by year-end.
The layoffs follow other recent cost-cutting measures, including reductions in daily minimum flight times and fewer peak days for some customers.
Wheels Up has confirmed that it has laid off a number of pilots effective immediately.
Different sources have estimated the number as between 11 percent and as high as 20 percent. The company issued a statement to Private Jet Card Comparisons, an online news source that specializes in shared ownership aviation companies and their pricing programs.
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