flyExclusive, a Kinston, North Carolina-based provider of private aviation services, has completed its previously announced acquisition of Jet.AI’s aviation assets. The transaction delivers a mix of operating assets, future fleet positions, marketable securities, and cash, rather than a straightforward purchase of aircraft and customers alone. Financial terms were not separately disclosed.
The acquired assets include Jet.AI’s Jet Card member base, expected to generate incremental flying activity on the flyExclusive platform immediately; two HondaJet aircraft and one Citation CJ4; approximately $4.1 million securing three future Citation CJ3 delivery positions scheduled for 2027; approximately $6.1 million in securities held through a special purpose vehicle representing indirect ownership of publicly traded SpaceX shares (NASDAQ: SPCX); and approximately $5.3 million in cash.
The SpaceX shares are subject to pre-IPO lock-up restrictions releasing on a staggered schedule through December 2026. flyExclusive intends to monetize the position in an orderly manner and redeploy the proceeds into fleet growth and operations. The company noted that future Citation CJ3 delivery positions carry their own strategic value in the current aircraft market, where production slots for in-demand jets are often difficult to secure and can represent competitive advantages for operators planning fleet expansion.
flyExclusive operates one of the largest owned-and-operated light jet fleets in private aviation. Over the past year it has also expanded its Challenger midsize and super-midsize fleet, become an authorized Starlink Aviation dealer, and continued investing in maintenance infrastructure and proprietary technology. The Jet.AI acquisition adds to that momentum by simultaneously strengthening the fleet, growing the customer base, and providing financial flexibility through convertible securities and cash — a structure the company frames as capital allocation rather than a conventional operating acquisition.
KEY QUOTES:
“This acquisition reflects exactly how we’ve been building flyExclusive. We’re not simply adding assets. We’re adding customers who can immediately utilize our platform, aircraft that strengthen our fleet, future delivery positions that support our long-term growth, and financial assets to accelerate our growth and that increase our flexibility. Every strategic decision we make is focused on creating long-term value for our shareholders. Our focus remains on growing the fleet, expanding our customer base, strengthening our balance sheet and investing in the capabilities that differentiate flyExclusive. This acquisition advances each of those priorities.”
Jim Segrave, Founder and Chief Executive Officer, flyExclusive
“In today’s aircraft market, delivery positions are strategic assets in their own right. Securing future production slots provides visibility into fleet expansion and supports our ability to continue growing one of the strongest light jet fleets in private aviation. The consideration included a diverse portfolio of strategic financial assets that increases our capital allocation flexibility. We will continue to maintain discipline in redeploying the consideration into the business — whether it’s fleet growth, debt reduction, or other strategic operational initiatives. Every asset acquired must earn its place by contributing to long-term shareholder value.”
Brad Garner, Chief Financial Officer, flyExclusive
