Finance, Taxes, Insurance
FlyExclusive To Acquire Jet.AI’s Aviation Assets
Jet.Ai to remain independent, spin off aviation business
Jet.AI
© Jet.AI / Facebook

FlyExclusive has entered an agreement to acquire the aviation assets of Jet.AI as the latter company pivots to focus solely on artificial intelligence software solutions for the air charter segment. The deal is estimated to be worth between $12 million and $22 million.

Under the agreement, Jet.AI will spin off its aviation assets into a new entity (SpinCo), which FlyExclusive will then acquire. Jet.AI shareholders will retain their existing stock and receive Class A common shares in FlyExclusive. The transaction, expected to close in the second quarter, is subject to financing, regulatory review, and shareholder approval.