12 Best Airport Stocks to Invest in Now

6. Wheels Up Experience Inc. (NYSE:UP)

Number of Hedge Fund Holders: 8

Market capitalization as of February 12: $997.87 million

In the US, Wheels Up Experience Inc. (NYSE:UP) offers private aviation services on demand. It is leading the way in data-driven and technology-driven solutions that link customers with private aircraft that have been confirmed and approved for safety. It connects private flyers to aircraft and one another via an open platform, allowing them to share life’s most essential experiences. It provides a combination of scheduled and charter options, making strategic use of its fleet of owned and leased aircraft as well as an “asset-light” charter strategy to provide a wider range of international travel options. Private aviation services is the company’s sole operational and reportable segment. Geographically, the United States accounts for the majority of the company’s revenue.

Wheels Up Experience Inc. (NYSE:UP)’s third-quarter earnings were steady, with sequentially flat revenue of $194 million. It is actively updating its fleet with more modern, efficient aircraft, such as the Challenger and Phenom, which will lower operating costs and increase operational dependability.

The business purchased a fleet of 17 Phenom aircraft from GrandView Aviation to speed up the transition process. Wheels Up Experience Inc. (NYSE:UP) will become the world’s largest supplier of on-demand Phenom aircraft as a result of this transaction. Over the following three years, it intends to gradually phase out its older jets and swap them out for the new Phenom and Challenger aircraft.

Making the switch to Embraer Phenom 300 and 300E aircraft is part of this. By doing this, three distinct fleets will be combined into one, streamlining operations and cutting expenses. They also intend to retain their King Air fleet while replacing its Citation X fleet with Bombardier Challenger 300 and 350 aircraft.

Tom Wagner And Ara Cohen’s Knighthead Capital was the largest stakeholder in the company from among the funds in Insider Monkey’s database at the end of Q3 2024. It owns 258.13 million shares worth $624.77 million as of Q3.