Wheels Up Experience Inc. has filed an amended Form 8-K/A with the U.S. Securities and Exchange Commission (SEC) on October 9, 2026. This filing corrects errors related to the company's financial reconciliations, specifically concerning its Adjusted EBITDA and Adjusted EBITDAR metrics for historical periods. This is crucial information for investors and stakeholders as it impacts the understanding of the company's financial health.

Background on Wheels Up Experience Inc.

Wheels Up Experience Inc. is a prominent player in the air transportation industry, primarily focusing on non-scheduled air travel. The company was previously known as Aspirational Consumer Lifestyle Corp. before its name change in July 2020. The firm operates from its headquarters in Chamblee, Georgia, and is publicly traded on the New York Stock Exchange under the ticker symbol "UP".

Details of the Filing

The amended filing, identified by accession number 0001628280-26-065562, serves to rectify inadvertent errors in the historical reconciliations of Adjusted EBITDA and Adjusted EBITDAR to net income (loss) for several periods, including from March 31, 2024, to March 31, 2026, and for the years ending December 31, 2024, and December 31, 2025.

The filing states, "This Amendment does not impact the Company’s unaudited financial statements or non-GAAP financial measures for the three and six months ended June 30, 2026 and 2025 that were reported in the Company’s Quarterly Report on Form 10-Q for the three months ended June 30, 2026." It emphasizes that the adjustments made are solely to correct the historical reconciliations.

Specifically, the filing details that the errors resulted in an understatement of both Adjusted EBITDA and Adjusted EBITDAR for the applicable historical periods. The revisions include:

  • Updating the line item titled "Loss on extinguishment of debt" to be reflected as an addition rather than a deduction.
  • Eliminating portions of amounts reported in the "Loss on extinguishment of debt" that were already included in the "Fleet modernization expense".
  • Recalculating Adjusted EBITDA and Adjusted EBITDAR based on these corrections.

Impact of the Filing

This amended filing may affect various stakeholders, including investors, analysts, and regulators who rely on accurate financial data to assess the company's performance. By correcting these financial metrics, Wheels Up aims to provide a clearer picture of its financial health and operational efficiency. Investors who track the company's performance metrics will need to take these amendments into account when evaluating the company's past performance.

What's Next?

The filing does not say what happens next. However, it is expected that Wheels Up will continue to monitor its financial disclosures closely to ensure accuracy in future reports.