VOLO
Full King Air exit, Delta partnership, and the ~50% movement reduction transition pain
Wheels Up completed fleet modernization ahead of schedule in late April 2026: exited King Air / Hawker / Citation X, focused on Phenom 300 + Challenger 300/350. But cost is significant: active fleet shrank from ~110 to May's just 63 (−42%); January–May 2026 movements YoY crashed 41–46%; King Air 350i fell from monthly average 1,390 to May's just 33. Q1 revenue YoY −5% to $168.9M, but Phenom and Challenger new-type revenue doubled. April established Delta strategic partnership targeting high-end business travel; December completed 10-aircraft sale-leaseback recovering ~$105M cash.