More Challengers, a new M&A target date, a stock offering, an executive appointment made up the week that was for FlyExclusive.
FlyExclusive was at the center of a quartet of announcements covering an acquisition, fleet expansion, financing, and executive leadership.
The fast-and-furious series of announcements and news drops follows what had already been a busy start to the new year.
Late yesterday, Jet.AI said it had extended the agreement to sell its aviation division to FlyExclusive through April 30, 2026.
The deal was initially announced in February 2025 and has been extended several times since then.
Jet.AI Executive Chairman Mike Winston said, “We’re excited about the deal and remain firmly committed.”
FlyExclusive Chairman and Chief Executive Officer Jim Segrave added, “We remain enthusiastically committed to the deal.”
Earlier in the day, FlyExclusive announced it had added two more Challenger 350s.
The additions to its super-midsize fleet support its premium offering for both fractional and jet card customers.
They are part of its continued fleet renewal program.
That includes exiting older light jets, super-midsize jets, and large-cabin Gulfstreams.
The latter were never part of its guaranteed products.
Segrave says the last GIV was sold in Q4 2025.
He adds, “Our dispatch availability has doubled from its low point, and is up 20% year over year.”
In December, it announced plans to double the number of mobile service units.
Those units repair aircraft that have mechanical issues away from their Kinston operational base so they can operate their schedule the next day, avoiding delays.
With newer airplanes and better support, Segrave says flight hours are up 15% on 20% fewer aircraft.
FlyExclusive expects to have 12 Challengers by the end of Q1.
The company said the latest airplanes will immediately receive Starlink WiFi, which was also announced just last week.
Segrave said in the press release, “These additions reflect a deliberate capacity strategy focused on long-term value creation, not opportunistic growth.”
He continued, “The Challenger platform continues to demonstrate superior contribution and reliability across our customer base.”
Per the fleet news, the now Raleigh, North Carolina-based operator noted, “The Challenger fleet currently represents the most economically productive segment of the FlyExclusive fleet, driven by strong customer demand, broad mission flexibility, and favorable operating characteristics.”
Expect more fleet announcements.
Segrave said there will be more Challengers, XLS midsize jets, and CJ3 light jets this year.
Three CJ3+s in 2026 will come from the Jet.AI deal, converted from a CJ4 order in 2024.
And in case you blinked, the move to Raleigh for its headquarters from nearby Kinston came just last week.
And also last week, on Friday, the fifth-largest U.S. operator said it had raised $15 million via a public offering of 2,255,639 shares of its common stock at a public offering price of $6.65 per share before deducting underwriting discounts and commissions and offering expenses.
New York-based Lucid Capital Markets is acting as the sole book-running manager for the offering.
Proceeds are being used for working capital and general corporate purposes.
The offering follows its shelf registration statement last June.
Segrave says FlyExclusive now has the “ability to raise funds as needed, going forward (and is) rapidly enhancing (its) balance sheet.”
Last September, it was added to the Russell U.S. Indexes.
Finally, Volato founder Matt Liotta has joined FlyExclusive as chief business officer.
He continues as CEO of Volato.
Volato has a pending all-stock merger with M2i Global, Inc., expected to close this quarter as it transitions
Volato and FlyExclusive have a long relationship.
After striking a deal to transition Volato fractional and jet card customers to FlyExclusive in August 2024, FlyExclusive last year purchased the aircraft sales unit of Volato, and has the option to buy its Vaunt empty-leg program and technology.
Segrave tells Private Jet Card Comparisons, “Matt joining as CBO gives us the bandwidth on the executive team we need to continue to accelerate our growth in 2026.”
He adds, “I am very excited to have him on this team.”
Liotta’s focus will be on technology development, “an area where he has deep core strength and a history of cutting-edge success,” fund execution, strategic acquisitions and integration, marketing leadership, investor and public relations.
Liotta will also be a part of the product development team.
The move to Raleigh (the new headquarters will be ready by the end of May) enables it to tap a wider talent pool.
In its Q3 2025 earnings call, CFO Brad Garner said, “The heavy lifting of our transformation is behind us, and we are entering the next phase of our growth story with confidence, momentum, and a clear line of sight to sustained profitability.”
Segrave says, “We have so much momentum right now,” continuing, “We are expecting 2026 to continue the rapid upward trend we delivered in 2025.”
He adds, “We are hiring new salespeople as quickly as we can to handle the demand.”
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