flyExclusive: $30 Million Investment Received From State Of North Carolina

By Annie Baker • Oct 25, 2023

flyExclusive – a leading provider of premium private jet charter experiences – recently announced that Global Transpark secured a $30 million investment from the State of North Carolina for a cutting-edge pilot training center and headquarters. This new facility is designed as a five-story complex containing up to five full-motion flight simulators. This enables the company to train and certify its pilots and reduce a lengthy backlog in the nation’s pilot training pipeline.

The new simulators will occupy 10,000 square feet across three stories and five bays. This facility will include 14,000 square feet of classrooms and training spaces, a rooftop terrace, and a 22,000-square-foot air operations center.

The company expects that after the simulators are functional, they will be able to reduce the amount of time new pilot hires must wait for outside training, giving the company an advantage as it competes for talent in one of the tightest labor markets in the United States.

This announcement is the latest in a series of steps the company has taken to modernize its facilities and grow its fleet. The company recently announced it has added the 100th jet to its state-of-the-art fleet.

Last year, flyExclusive announced an ambitious fleet modernization program that included an order of up to 44 new Textron Aviation aircraft, including up to 30 CJ3+ light aircraft. And the total investment plan included purchasing up to 14 midsize and super-midsize Cessna Citation business jets, including eight XLS Gen2 aircraft and six Longitude aircraft, respectively. Aircraft in light size, midsize, and super-midsize categories will provide options to customers in flyExclusive’s fractional program.

The investments from the state are a prelude to the company’s Phase III expansion. And flyExclusive recently completed Phase II, which saw the construction of four hangars, including one designed as a cutting-edge electrostatic paint shop that can handle eight aircraft per month.

The hangars – as well as the Phase III campus expansion – will enable the company to bring approximately 80% of its maintenance in-house, reducing the need to outsource, which can come with lengthy waits and higher costs. Earlier this year, the Federal Aviation Administration granted flyExclusive Part 145 Certification to perform Maintenance, Repair, and Overhaul (MRO) services on third-party aircraft.

KEY QUOTES:

“I am often asked why we chose Kinston for our headquarters. First, we’re perfectly positioned geographically within a short flight from some of the busiest private aviation destinations in the country. Second, we’re able to recruit talent from the many nearby military bases to build careers in this great community. Third, we’ve received enormous support from the Kinston community, the Global Transpark and the state of North Carolina. We believe this latest investment will bring hundreds of jobs and millions of dollars to the state and community we love. We’re proud to call Kinston and North Carolina home, and I’m grateful for our partners in government who share our vision for the future and invest in our success.”

— Jim Segrave, Founder and CEO of flyExclusive