KINSTON, N.C.–(BUSINESS WIRE)–flyExclusive (NYSEAMERICAN: FLYX), a publicly-traded provider of premium private jet charter experiences, today announced the execution of a two-year revolving credit facility for up to $25.8 million with ETG FE LLC, an investment vehicle managed by EnTrust Global.
As part of its strategic initiatives to accelerate operational excellence, grow the business, and execute its strategic plan to become the nation’s first fully vertically integrated private aviation company, flyExclusive will use the proceeds to support the continued evolution of the company’s fractional aircraft program.
“We believe this facility is a strong vote of confidence in flyExclusive’s strategy and continued initiatives to increase growth and profitability,” said Jim Segrave, Founder and CEO of flyExclusive. “We look forward to the continued partnership with ETG FE LLC and EnTrust Global, and believe this facility marks an important milestone in our journey to provide customers with the highest level of comfort, safety, and quality.”
The investment comes at an exciting time for flyExclusive as it executes its business strategy. In December 2023, the company announced the completion of its business combination with EG Acquisition Corp. sponsored by EnTrust Global and GMF Capital.
In October 2023, the Company announced that the Global TransPark secured a $30 million investment from the State of North Carolina to fund a new headquarters and cutting-edge pilot training center. As bottlenecks within the industry have increased, flyExclusive prioritizes vertical integration throughout its operations to minimize industry challenges and maintain its consistent position as a leader in luxury private jet travel.
About flyExclusive
flyExclusive is a vertically integrated, FAA regulated operator of private jet experiences offering customers on-demand charter, Jet Club, and fractional jet services to destinations across the globe. As one of the world’s largest owner/operators of Cessna Citation aircraft, flyExclusive owns a floating fleet of more than 100 light to heavy jets. The company manages all aspects of the customer experience, ensuring that every flight is on a modern, comfortable, and safe aircraft. flyExclusive’s in-house Maintenance, Repair and Overhaul services, including paint, interiors, and avionics capabilities, are provided from its campus headquarters in Kinston, North Carolina. To learn more, visit www.flyexclusive.com.
