Acquiring Jet.AI brings customers to the platform, aircraft that strengthen the fleet, future delivery positions that support long-term growth and financial assets that accelerate growth and increase flexibility.

The business combination consideration will be in the form of a number of fully paid and non-assessable shares of Class A common stock of flyExclusive equal to the quotient of the purchase price, which shall be determined.

Jet.AI currently operates three HondaJets, one CJ4 and a King Air 350i. A new agreement for three further CJ4s comes in addition to its existing super-mid fleet expansion plan for five new Challenger 3500s.