Wheels Up Experience Inc. (UP) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

This morning we announced our second quarter results. The earnings release with its supporting tables as well as a copy of today's presentation can be found on our investor relations website at wheelsup.com slash investors. Please refer to the slide with our disclaimer. Today's presentation contains forward-looking statements based on our current forecast and expectations of future events. These statements should be considered estimates only and actual results may differ materially. During today's webcast, we will refer to non-GAAP financial measures as outlined by SEC guidelines. Unless otherwise noted, all income statement related financial measures will be non-GAAP other than revenue. Reconciliations of GAAP to non-GAAP financial measures and definitions of non-GAAP financial measures are found within the financial tables of our earnings rates and appendix of today's presentation. And with that, I'd like to turn it over to Wheels Ops Chief Executive Officer, George Metz. Thank you, Keith. And thanks to all of you for joining us today. For several months now, you've heard about Wheels Up's commitment to leading the industry in operational excellence while driving efficiency, profitability, and durability across our business model. I'm pleased to report that in Q2, we have once again exceeded our internal goals for both completion rate and on-time performance, coming in at 99% and 87% respectively. Last quarter, We also introduced an additional benchmark we call brand days, or days in which we have zero cancellations of any type across our entire controlled fleet. In Q2, we had 31 days, a new record, a nearly 15% increase from Q1, which had been our highest since we started tracking against this metric. We are proud not only of our strong and greatly improved operat...