Despite another delay, FlyExclusive says its Jet AI ‘merger agreement remains in full force and effect’.
The agreement for FlyExclusive to acquire Jet AI’s aviation division “remains in full force and effect” despite another delay.
The transaction requires approval from holders of a majority of the outstanding Jet AI shares.
That means 710,861 shares.
Meetings on June 11 and then yesterday failed to meet that mark.
After yesterday’s Jet AI shareholder meeting, 688,285 shares voted in favor of the merger.
That represented approximately 48.4% of total outstanding shares.
Approximately 99% of the votes cast have voted in favor of the transaction.
The special meeting was adjourned and will reconvene on July 2, 2026.
FlyExclusive Chairman Jim Segrave said, “The voting results demonstrate broad support among participating stockholders, and we remain focused on completing the transaction and moving forward with our strategic objectives.”
In a press release, FlyExclusive said:
‘The merger agreement remains in full force and effect. There have been no changes to the transaction terms, structure, or economics, and both companies continue working toward satisfaction of the remaining closing conditions.’
The original deal was announced in February 2025.
Separately, FlyExclusive said May was its best month ever with over 7,000 flight hours.
The Raleigh, North Carolina-based operator is on a trajectory that could see it move into the fourth spot among the largest U.S. charter/fractional operators.
Segrave said, “As we move through 2026, our focus remains unchanged: improving profitability, strengthening our balance sheet, increasing aircraft utilization, and creating long-term value for shareholders.”
He added, “The pending Jet.AI transaction represents one component of that broader strategy.”
He said focus continues “operational execution across its vertically integrated aviation platform, including charter operations, maintenance, repair and overhaul services, aircraft sales, and technology-enabled offerings.”
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