flyExclusive narrows 2025 losses as fractional revenues jump 56%
flyExclusive narrowed its 2025 losses to $67.1m from $101.40m in 2024 driven by robust demand for its fractional and MRO offerings and struck an upbeat note about its prospects for the year ahead.
The Kinston-based private aviation firm reported that revenue increased 15% last year to $375.9m, driven by a 56% increase in fractional revenue and 48% growth in MRO business. Flight revenue also grew 13% during the year.
flyExclusive said adjusted EBITDA, the company’s preferred measure for operating efficiencies, for 2025 was at -$7m. The fourth quarter EBITDA was reported at $6.6m – the company’s first positive quarter since going public.
Chief executive Jim Segrave, in a prepared earnings call statement, said “2025 was a turning point for flyExclusive. Over the last two years, we made a deliberate decision to transform this company, modernising the fleet, eliminating nonperforming aircraft, restructuring costs and raising our execution standards across the organisation.”
Segrave added the company removed 28 non-performing aircraft and added seven profitable ones to the fleet during the past year. This, he said, led to 13% growth in flight hours despite operating 14% fewer aircraft.
The company’s fleet flew 74,000 flight hours in 2025, including over 20,000 in the fourth quarter. Core fleet utilisation rose 23% per aircraft to an average of 73 hours per plane over the year.
“We are now the number one charter operator in the United States and the overall number three operator when including fractional turboprop and management operators,” Segrave added.
The company did not publish long-term guidance. But Segrave said he expects “every quarter of 2026 to meaningfully outperform the corresponding quarter of 2025.” Over the last eight quarters, flyExclusive profitability has improved by an average of $3.4m by quarter.
In 2026, the operator stands to benefit from having shed the weight of its non-performing fleet. flyExclusive is looking to expand its fleet by adding more aircraft and increasing flight hours. It operates a fleet of Citation CJ3 / CJ3+, Citation Excel / XLS /XLS+, Citation Encore+, Citation Sovereign, Citation X, and Challenger 350 aircraft.
flyExclusive leases 145,000 square feet of office and hangar space from the North Carolina Global TransPark 2,500-acre industrial park giving the operator access to an 11,500-foot runway.
