Wheels Up has signed a definitive agreement with Embraer for six factory-new Phenom 300E light jets, due for delivery in the third and fourth quarters of 2027. The company announced the order on November 5, 2026, alongside its third-quarter results. It is the first time Wheels Up has ordered new aircraft directly from Embraer. Until now it built its modern fleet from pre-owned jets.
For members, the order matters less for its size than for what it says about where Wheels Up is heading: a smaller, standardized fleet of two aircraft types, and a membership business that has largely replaced the programs it ran before.
The Order
According to Wheels Up, the six new jets will join the 29 Phenom 300 and 300E aircraft and 15 Bombardier Challenger 300-series jets in its controlled fleet. They will arrive with satellite Wi-Fi already installed, matching the rest of the Phenom and Challenger fleet, which Wheels Up says is fully equipped with satellite Wi-Fi.
Wheels Up didn’t disclose the price. Trade outlet ch-aviation, citing the company’s quarterly filing, put the deal at about $90 million, with the initial deposit financed largely through an equipment financing arrangement with Bank of America and PNC Bank.
The order follows nearly three years of talks between the two companies. Michael Amalfitano, president and CEO of Embraer Executive Jets, said the work to bring new Phenom 300Es into the Wheels Up fleet began in 2024. Wheels Up CEO George Mattson described the order as opportunistic rather than a change in fleet strategy, telling Private Jet Card Comparisons: “We are positive on the macro backdrop for private aviation. General economic conditions remain strong.”
The Phenom 300E is the obvious choice for a fleet built around a light jet. It has been the world’s best-selling light jet for 14 years, with a range of 2,010 nautical miles and a top speed of 464 knots. Our Embraer Phenom 300 guide covers its specs, cabin and costs in detail.
A Fleet Down to Two Types
The order completes a fleet overhaul that has been running since 2024. Wheels Up retired its legacy fleet, which included Citation X, Citation Excel and XLS jets, from revenue service in April 2026. It now flies only Phenom 300s and Challenger 300s, and its Phenom and Challenger fleet grew from 24 to 43 aircraft over the past year, according to its results.
Fewer aircraft types usually mean simpler crew training, maintenance and scheduling, which shows up for members as fewer delays and cancellations. Wheels Up reported a 99.3% completion rate in the third quarter, up about a point from a year earlier, and on-time performance of 86.4%, up about four points. We looked at how Wheels Up got there in our piece on its reliability turnaround under Delta’s playbook, and at the earlier stage of the fleet plan in Wheels Up’s Phenom and Challenger expansion.
What the Third-Quarter Numbers Show
| Q3 2026 | Result | Change vs. Q3 2025 |
|---|---|---|
| Revenue | $164.8 million | Down 11% |
| Gross profit | $15.2 million | Up from a $1.3 million loss |
| Net loss | $89.4 million | Wider than $83.7 million |
| Adjusted EBITDAR | Loss of $13.2 million | 44% improvement |
| Signature members | More than 1,500 | Up 130% since January |
| Completion rate | 99.3% | Up about 1 point |
Revenue fell because Wheels Up is deliberately shrinking. It is winding down its older membership programs, and it sold some non-core service businesses in 2025, which accounted for about three percentage points of the decline. Live flight legs fell 33%, while the aircraft it kept flew more: utilization rose 31%.
The more important figure for members is the shift between programs. Wheels Up said its Signature membership passed 1,500 members, up 130% since the start of the year, while legacy memberships fell 62% after the wind-down it announced for April. “Signature revenue and memberships surpassed legacy revenue and memberships for the first time,” Mattson said.
The company is still losing money. Cash fell to $51.8 million at the end of September from $133.9 million at the end of 2025, and operations used $208.3 million in cash over the first nine months. Delta Air Lines, Wheels Up’s strategic partner, has committed an additional $100 million revolving credit facility. For background on how Wheels Up has funded its fleet so far, see our look at its $105 million sale-leaseback.
What It Means If You Fly Wheels Up
- Legacy members: the move to Signature membership is nearly complete, and Wheels Up says it will finish winding down the older programs in 2027. If you are still on a legacy plan, ask what your options and pricing will be before your renewal.
- Signature members: new aircraft won’t arrive until the second half of 2027, so the order won’t change availability next year. It does signal that Wheels Up plans for more Signature flying, not less.
- Charter clients: a two-type fleet with Wi-Fi on every aircraft makes the product more predictable. Light-jet trips will be on a Phenom 300 or 300E, and longer trips on a Challenger 300 or 350.
The order is small next to the Phenom orders NetJets and Flexjet have placed, but it is the clearest sign yet that Wheels Up sees its turnaround as permanent. The test will be whether membership growth outpaces the cash it is still burning before those six jets arrive.