FlyExclusive receives first new Citation CJ3+s from Textron Aviation

FlyExclusive has taken delivery of its first three new private jets.

According to the company, it has received three Cessna CJ3+ aircraft from Textron Aviation as part of its expansion into fractional ownership.

Since launching in 2014, the fifth-largest private jet operator based on charter/fractional hours has built its fleet via preowned aircraft and triple net leases.

“Our decades-long relationship with Textron Aviation is strong, and today is made even stronger. Our customers expect the best, and the Citation CJ3+ offers the most superior light jet experience in private aviation,” said FlyExclusive Founder and CEO Jim Segrave in a press release.

He continued, “We are guided by the ethos that every minute matters to our customers, and the CJ3+’s range, speed, and interior will help us continue to meet that high standard.”

Last year, the company ordered 44 new aircraft from Textron in two separate announcements.

The first order in April 2022 was for up to 30 CJ3+ light aircraft.

In October 2022, it added up to 14 midsize and super-midsize Cessna Citation business jets, including eight XLS Gen2 aircraft and six Longitude aircraft.

Original plans called for up to 10 new aircraft by the end of 2023, with the first delivery slotted for late 2022.

Asked about the current schedule, a spokesperson tells Private Jet Card Comparisons, “Now that deliveries have begun, we anticipate a steady delivery of new CJ3+, XLS Gen 2, and Longitudes over the next three years.”

According to its website, the current fleet includes 90 total aircraft.

FlyExclusive IPO Timing

Of FlyExclusive’s planned IPO SPAC merger, the spokesperson says, “We still anticipate to complete the transaction before the end of this year.”

During its June Investors Day presentation, executives had said they wanted to close the deal in August or September.

In other news, the company said it had completed Phase II of its Kinston, North Carolina headquarters campus expansion.

The initiative includes four hangars, one designed as an electrostatic paint shop that can handle eight aircraft per month.

The hangars and a previously announced Phase III campus expansion will allow the company to bring 80% of its maintenance in-house.

The vertical expansion reduces outsourcing maintenance, 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.