Jet.AI has arranged non-binding, non-recourse, debt financing related to the proposed purchase of Bombardier Challenger 3500 aircraft valued at approximately $280 million based on today's list prices. The debt financing arrangement, in conjunction with the previously announced Ionic Ventures financing, positions the company well to execute on its long planned fleet order in the management's view.

Founder and executive chairman Mike Winston comments: "This marks a significant step forward in our fleet expansion plan. Following our successful $25 million order with HondaJet, this new $280 million order with Bombardier for larger jets would represent a substantial increase in scale. We anticipate deliveries to commence in 2026, allowing ample time for pre-sales and operational preparation. Despite being a mature cyclical industry, private aviation continues to offer attractive returns on capital investment. This factor, coupled with the increased likelihood of completing the deal, reinforces our confidence in this multi-year commitment of hundreds of millions of dollars."

In December 2022, Jet.AI had executed a non-binding letter of intent to acquire five new Challenger 3500 super-midsize business jets from Bombardier with the intent of pre-selling fractional interests in those aircraft. Over the course of the next year and a half, the particulars of the aircraft's specifications were negotiated in detail and the order has been upsized for delivery ratably over three years beginning in early 2026.