FlyExclusive sets record, sees 47% Thanksgiving flying growth

FlyExclusive says it increased its hours flown by 47% compared to the 2023 Thanksgiving holiday weekend.

It also achieved its highest one-day revenue total in nine years of operation.

CEO Jim Segrave said, “As we’ve grown the business, we’ve been disciplined and strategic every step of the way, and we’re seeing the results of that with strong customer demand combined with efficient fleet utilization.”

He added, “Being vertically integrated allows us to control every aspect of the customer experience, and that has led to strong, stable demand in our Jet Club and fractional programs, which we expect to continue through the holiday season and into 2025. As we continue to add new, high-performance aircraft to our fleet and offer customers a consistently superior experience, we’ll continue to take market share and further scale the business.”

Since entering into an Aircraft Management Services Agreement with Volato Group, Inc. in September, the nation’s fifth-largest charter/fractional operator says it has added nearly 200 of the former HondaJet operator’s Insider jet card members to its Jet Club while also expanding its fractional customer base.

FlyExclusive has now taken three Challenger super-midsize aircraft as it looks to remake its fleet around newer aircraft.

In announcing the record day, the company said it “expects additions to accelerate in 2025, with each additional aircraft bringing a substantial boost to profitability.”

Executives have pinned losses on the cost of its 2023 IPO and expenses related to operating older aircraft where dispatch rates were in the low 30% range.