Charter carrier flyExclusive is to acquire the aviation business of artificial intelligence company Jet.AI.
The transaction will occur following Jet.AI’s spin-out of the business into a new company called SpinCo, which will then be acquired by flyExclusive. Jet.AI shareholders will retain their Jet.AI stock and receive new Class A common shares in flyExclusive as part of the transaction.
The deal is expected to provide flyExclusive with additional growth capital and enhanced shareholder liquidity and to allow Jet.AI to focus as a pure-play AI solutions company.
flyExclusive’s founder and CEO , Jim Segrave said, “The proposed transaction with Jet.AI is the latest example of the value flyExclusive’s vertically integrated private aviation platform provides to industry participants. The transaction benefits flyExclusive investors and will augment our continued growth and market share expansion as an industry leader.
“Additional growth capital and new shareholders provide an early tailwind in 2025 as we onboard additional high-performance aircraft and serve strong demand for our differentiated customer service.’
“This offers our shareholders the opportunity to benefit from growth in both private aviation and AI,” said Jet.AI founder and executive chairman Mike Winston. “flyExclusive, the fifth-largest operator in the industry by hours flown, is a natural fit, with clear synergies given the common aircraft we operate.”
