Premium Private Jet Owner/Operator flyExclusive Goes Public to Expand Fractional Ownership Program
flyExclusive, a provider of premium private jet charter experiences, recently went public with the aid of approximately $100 million in capital and $50 million in follow-on debt and preferred equity investments. The funding will enable flyExclusive to expand its fleet and fractional ownership offerings for clients who want to experience the comfort, convenience, and control of access to on-demand jet travel across the globe. The Company currently operates a fleet of approximately 100 jets. flyExclusive is listed on the NYSE American and trades under the ticker symbol FLYX.
Ideal for travelers who prefer to fly private 50 or more hours each year, flyExclusive’s fractional ownership program provides easy access to private jet travel while requiring a lower capital investment than full jet ownership, potentially offering similar tax benefits. The fractional ownership program gives travelers peace of mind to plan travel without the concern of crew hiring and training, insurance, and other regulatory and operational requirements.
According to flyExclusive, its fractional program is unique in that it has no monthly management fees. Travelers only pay for the days they fly. With proper notice, there are no repositioning fees. These policies help the Company offer competitive pricing.
Aircraft available through the fractional ownership program include the Cessna CJ3+, which offers reliability, performance, and comfort in the light jet category. The Company also recently added Bombardier Challenger 350 jets to the fractional program and has announced plans to add as many as 20 of the aircraft to its fleet in the next 2 years. The Challenger 350 is a highly capable and sophisticated business jet that offers a comfortable and luxurious non-stop cross-country flying experience. flyExclusive also plans to add several Cessna Citation XLS Gen2 midsize business jets to its fleet.
flyExclusive’s CEO and founder Jim Segrave said, “This is a beautiful jet that our customers will love. It’s fast and it’s spacious. Whether you want to stand up and walk on the flat floor during the flight or get work done as you fly non-stop cross-country you can do it on our Challenger 350s.”
For travelers who typically fly private 20 to 50 hours per year, flyExclusive offers membership in its Jet Club program. Jet Club memberships are structured as a 24-month term with 12-month fixed rates, reduced peak and high demand days and premiums, flexible schedule savings, a choice of multiple purchase tiers, and guaranteed access to a large fleet of light, midsize, and super-midsize aircraft.
flyExclusive also offers private jet charters independent of membership programs. These charters provide clients with VIP service and flexible travel across the globe. Each charter is customized to meet the client’s unique trip requirements.
Vertical integration sets flyExclusive apart from many of its competitors. The company manages all aspects of the customer experience, ensuring that every flight is on a modern, comfortable, and safe aircraft. flyExclusive’s in-house repair station, including paint, interiors, and avionics capabilities, are provided from its campus headquarters in Kinston, North Carolina.
As one satisfied client said, “In an industry full of amazing service that spoils and pampers its customers, flyExclusive has somehow figured out how to stand out above all the rest.” Another commented, “We’ve flown with most of the big services—flyExclusive is hands down the most luxurious, consistent, feature rich, and fairly priced in the industry.”
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