Wheels Up Confirms Pilot Layoffs
Estimates of the number of pilots affected range between 11 percent and 20 percent.
Estimates of the number of pilots affected range between 11 percent and 20 percent.
The rugged single-engine turboprop excels in corporate travel, charter, and utility roles.
Volato has officially merged with PROOF Acquisition Corp I (PACI), clearing the way for the private aviation company to go public.
The private aviation services provider, which counts NFL star quarterback Patrick Mahomes as a customer, snapped up 90 aircraft and 300 personnel from its rival.
He brings 25 years of aviation experience to replace the departed company founder in the role.
Blade saw revenue growth in nearly all segments of its business, but those gains were balanced out by widening net losses.
The bridge investment comes in as the Part 135 operator postpones its earnings call.
Part 135 fractional operator Wheels Up is apparently seeking new sources of funding to parlay a worsening cash situation.
The private aviation company expects delivery by the end of 2025.