Wheels Up Experience Inc. (NYSE: UP) has completed a jet fleet modernization program 18 months ahead of its original timeline, according to a press release from its transaction partner, 5x5 Trading.

5x5 Trading, an IADA-accredited aircraft dealer and fleet advisory firm based in Boca Raton, Florida, served as Wheels Up's exclusive transaction partner, managing the acquisition and disposition of nearly 100 aircraft since 2024.

The program reduced Wheels Up's controlled fleet from four jet aircraft types to two, consolidating around the Embraer Phenom 300 and the Bombardier Challenger 300/350.

"Modernizing our controlled fleet was a defining step in the transformation of Wheels Up, and we set an aggressive timeline because the opportunity in front of us demanded it," said Meaghan Wells, Chief Growth Officer of Wheels Up. "Their transactional discipline helped us reach a simpler, more efficient fleet well ahead of schedule."

5x5 Trading was founded in January 2024 by four principals — John Odegard, Seth Zlotkin, Chris Brenner, and Jeremy Bogle — who collectively claim more than $1 billion in private aviation sales throughout their careers. Odegard also serves as Chairman of IADA.

"Fleet transitions of this scale require every acquisition and disposition to be managed in the context of the next," said Odegard. "Working hand in hand with the Wheels Up team, we sequenced the transition to protect operational continuity while delivering against the timeline they set."

Wheels Up said it continues to expand its Phenom and Challenger fleets to support its Signature Membership and charter programs.