flyExclusive – a publicly-traded provider of premium private jet charter experiences – announced the execution of a two-year revolving credit facility for up to $25.8 million with ETG FE LLC, an investment vehicle managed by EnTrust Global.
As part of its strategic initiatives to accelerate operational excellence, grow the business, and execute a strategic plan to become the nation’s first fully vertically integrated private aviation company, flyExclusive will use the proceeds for supporting the continued evolution of the company’s fractional aircraft program.
This investment comes at an exciting time for flyExclusive as it executes its business strategy. And in December 2023, the company announced the completion of its business combination with EG Acquisition Corp. sponsored by EnTrust Global and GMF Capital.
In October 2023, the company also announced that the Global TransPark secured a $30 million investment from the State of North Carolina to fund a new headquarters and cutting-edge pilot training center. And as bottlenecks within the industry have increased, flyExclusive prioritizes vertical integration throughout its operations to minimize industry challenges and maintain its consistent position as a leader in luxury private jet travel.
KEY QUOTE:
“We believe this facility is a strong vote of confidence in flyExclusive’s strategy and continued initiatives to increase growth and profitability. We look forward to the continued partnership with ETG FE LLC and EnTrust Global, and believe this facility marks an important milestone in our journey to provide customers with the highest level of comfort, safety, and quality.”
– Jim Segrave, Founder and CEO of flyExclusive
