Writer

Amy Wilder

FlyExclusive reported $91.3 million in second-quarter revenue, highlighting growth in its fractional and jet club charter membership programs along with significant fleet optimization. Company CEO Jim Segrave said the company’s results reflect “a rapid transformation of the business that we’ve been working on for 18 months now.” The improvements, he added, “seem to be continuing very nicely—maybe even accelerating.”
Over the past year and a half, FlyExclusive has reduced its number of nonperforming aircraft from 37 to 13. “We evaluate that on a P&amp;L based on all the airplane’s activity,” Segrave explained. He noted that better parts availability and overnight maintenance have improved reliability and returns to service.
Despite operating with 10% fewer aircraft, FlyExclusive flew 12% more total flight hours in the second quarter. Segrave attributed the gain to a disciplined approach to aircraft reliability and utilization, noting that “if you really want to be great, you do maintenance overnight when people aren’t using the airplanes.”
Originally intended to support the company’s fleet, FlyExclusive’s maintenance, repair, and overhaul (MRO) and paint and interior businesses have evolved into revenue generators.
“We got into the MRO business to be able to control our destiny and do our own maintenance. But it’s become a profit center,” Segrave said. “Our paint and interior businesses were largely done to take care of our fleet,” he said. “We need to do 33 airplanes a year just to keep up with our fleet. That’s why I can justify a paint and interior shop just for that business.”
Now, outside customers account for much of the demand. “Our fleet only represents about 25% of the overall demand. Seventy-five percent of our paint business, for instance, is outside customers. We are sold out of our capacity to March at this point,” he explained.
Looking ahead, Segrave said the company plans to “start to build the fleet size fairly rapidly” after removing underperforming aircraft. “The trend of improvement is continuing,” he noted, adding that the third quarter has continued the positive growth trend.&nbsp;
He credited the company’s expansion in MRO services, along with strong demand from both air charter members and wholesale partners, for sustaining momentum.

News and issues concerning the aviation charter and fractional-ownership industries and markets, including company announcements, regulations, new developments and labor issues.

FlyExclusive Reduces Nonperforming Aircraft and Boosts Flight Hours

Company chief said operational transformation is gaining momentum

FlyExclusive reported $91.3 million in second-quarter revenue, improving efficiency and utilization while reducing nonperforming aircraft.

FlyExclusive Grows Revenue, Improves Utilization

2024 Corporate Aviation Leadership Summit

Charles Alcock

News and issues relating to business, corporate and private aviation, primarily regarding turbine-engine-powered airplanes and helicopters. Subjects include aircraft, engines, maintenance, operations, personnel, acquisitions, accidents, safety, security, and training.

U.S. operator reports international flight increases and larger aircraft demand

Jet Linx Upgrades Ops Center In Response to Flight Growth

Kerry Lynch

News and developments about airplanes, helicopters and unmanned air vehicles used in all varieties of operations, including airlines, military, business, commercial, general aviation and private.

Company to start operations with fleet of Challenger 3500s and Global 6500s

Bond To Shake, Not Stir, Fractional Market with $1.7B Bombardier Order

U.S. operator is focused on building fleet of leased Cessna Citation Xs

Wholesale Charter Operator BellAir Becomes Jet Excellence

New division will not offer service with privately-owned, managed aircraft

Luxaviation One Team Will Focus Exclusively on Charter

New developments at FBOs including regulations and noise issues; legal disputes; openings, acquisitions and mergers.

News about simulators and training procedures, as well as workforce.

22 aircraft have been added to the group’s management and charter operation

Jet Aviation Expands U.S. Fleet and Staffing Service

Real Jet will serve as a boutique customer-centric air charter brokerage

Kenny Dichter Gets ‘Real’ in His New Bizav Venture

Matt Thurber

Arrangements made on behalf of Big Sky resorts and ranches

Lone Mountain Travel Picks Moove AI Booking Tool

Issues regarding financing of aircraft; aviation insurance; tax issues for aircraft operators; new companies and people in the aviation financing and insurance industries.

NBAA-BACE 2025

In this article

FlyExclusive

More In Charter & Fractional