Wheels Up (WUP, Teterboro) has placed an order with Embraer Executive Jets for six new Phenom 300Es for delivery in the second half of 2027, scheduled for delivery in the second half of 2027. The order builds on a fleet modernisation plan introduced in late 2024 and aims to accommodate anticipated growth in customer demand.
The agreement follows three years of discussions between Wheels Up and Embraer over the acquisition of new aircraft. Valued at approximately USD90 million, the deal includes an initial deposit financed substantially through an equipment financing arrangement with Bank of America and PNC Bank, according to Wheels Up's third-quarter 2026 financial results.
“Having completed our fleet modernisation programme earlier this year, over 18 months ahead of schedule, we have seen strong growth in demand for our Signature membership offering, supported by our best-in-class fleet of Phenom and Challenger aircraft,” said George Mattson, CEO of Wheels Up.
Speaking to Corporate Jet Investor, Mattson said the company would remain “opportunistic” in acquiring additional aircraft, noting that “there is a big, deep secondary market for Phenom and Challenger jets.”
The six new Phenom 300E aircraft, scheduled for delivery during the third and fourth quarters of 2027, will join twenty-nine Phenom 300 and Phenom 300E jets and fifteen Challenger 300 family aircraft in Wheels Up's fleet.
Until now, Wheels Up focused on the pre-owned aircraft market for fleet acquisitions. The first Phenom 300 and Phenom 300E jets were added in early 2025, followed shortly afterwards by the first Challenger 300. In late 2026, Wheels Up inducted a Challenger 350.
Additionally, after retiring all legacy aircraft in April, the company continues to divest all remaining owned Citation XLS, Citation X, Hawker 400XP, and King Air 350i Beech (twin turboprop) aircraft.
