flyExclusive narrows losses in second quarter
Private jet operator flyExclusive’s shares surged to a peak of $2.8 per share in the hours leading up to the results announcement wherein it posted revenue of $91.3m with growth in flights and aircraft management services.
Kinston, North Carolina-based operator narrowed losses by 42% year-over-year to $16.1m from $27.8m in the same period last year. Loss per share reached $0.26 per share.
The company has developed a versatile fleet of Citation CJ3 / CJ3+, Citation Excel / XLS / XLS+, Citation Encore+, Citation Sovereign, Citation X, and Challenger 300 / 350 aircraft. The operator has 93 aircraft on certificate including six transfers from its acquisition of Volato last year.
The operator reported growth on all of its operating metrics including members contributing to revenues reaching 1,077 (from 816 at the end of 2024), followed by growth in active members, flight hours and hours per aircraft.
flyExclusive’s filings show its members per aircraft grew to 12.5 from 9.7.Â
Earlier in June, the company said it plans to launch a luxury short-haul and amphibious service flying to destinations across South Florida, the Bahamas and the Caribbean. In March, the company launched a Jet Club membership to deliver on-demand services.
The move will flyExclusive diversify revenue streams. In the second quarter, it reported revenues from flights at $85.7m with an additional $0.5m from aircraft management services.
The company went public at the close of calendar year 2023 via SPAC merger with EG Acquisition Corp. Earlier in July 2025, it said it had reached an agreement with EG Sponsor to waive the lock-up of 5,6m shares of the Class A common stock and warrants to purchase 4.3m shares of the Class A common stock.
The company said the waiver will allow flyExclusive to be included in the Russell Indices through increased volume and liquidity. The move will also support company in raising additional capital to support liquidity.
flyExclusive ended second quarter with cash and cash equivalents of $15,819. Net cash flows used in operating activities clocked in at $10,101 for the six months ended June 30, 2025.
