Fast-growing FlyExclusive is continuing its vertical integration strategy as it opens another hangar at its Kingston, North Carolina headquarters.
FlyExclusive has formally opened its latest facility, a 9,500-square-foot hangar. It will house parts of the company’s growing Maintenance, Repair, and Overhaul (MRO) division.
The new facility expands the capacity of its paint refurbishment division.
The company’s total paint infrastructure now exceeds 33,000 square feet, with the ability to paint over eight planes per month.
By having this capacity in-house, it can more efficiently address repairs and cosmetic updates, increasing aircraft uptime for its fleet.
In 2022, FlyExclusive ranked as the fifth largest operator in the U.S., measured by charter and fractional flight hours.
The opening of the new hangar marks the completion of Phase 2 of its campus expansion plan. That entailed the construction of four major hangar facilities that comprise its MRO business.
Phase 3 will include a new corporate headquarters, ground and flight training space that will house flight simulators and an additional approximately 80,000 square feet of maintenance facilities.
At the ribbon cutting today, Founder and CEO Jim Segrave told attendees, “FlyExclusive was born out of my passion for aviation. I was a pilot before I was CEO, so I understand the value of ensuring that our jets look as good as they fly. We believe our latest investment in this facility will have far-reaching benefits for our business, including increased reliability, efficiency, and substantially reduced costs.”
FlyExclusive opened its first paint hangar in 2021 as part of its vertical integration strategy.
Shortages of parts and maintenance technicians have been hampering industry reliability, keeping airplanes grounded for extended periods.
The company plans to bring 80% of maintenance in-house.
Last year it made its first order of new aircraft as it launches a fractional ownership program. It also plans to become publicly traded via a SPAC merger later in 2023.