FlyExclusive Plans to Go Public Through SPAC Merger, CEO Confirms

By: Doug Jones, Sky Correspondent

Date Published: 2023-04-26

FlyExclusive founder and CEO Jim Segrave speaks during a grand opening October 2022 of the company’s new maintenance hangar. (Photo: FlyExclusive)

North Carolina-based charter, jet card, and fractional operator FlyExclusive is moving forward with its SPAC merger and plans to become publicly traded, according to the company’s Chairman and CEO Jim Segrave. FlyExclusive’s decision to go public comes after Flexjet and Verijet canceled their IPO plans.

In an interview with IPO Edge on April 25th, Segrave stated that FlyExclusive has a profitable operation and has shown growth during these challenging times, which makes it a good time to go public. Segrave also confirmed that FlyExclusive will file its proxy statement within the next 10 days and that the plan for finalizing the SPAC merger is set for August or September.

However, Segrave indicated that the company has no plans for acquisitions and cited the company’s single headquarters and operations hub in Kinston, North Carolina, as a competitive advantage.

FlyExclusive initially announced its IPO plans in October of last year.

This news comes weeks after a direct competitor Wheels Up, the private aviation company that made headlines as the first-ever in its industry to go public via a SPAC merger back in 2021, is facing a difficult time. The company has recently received a notice of delisting from the NYSE and is currently embroiled in several class action lawsuits.

About FlyExclusive

FlyExclusive is a private jet transportation services provider that specializes in offering accessible and reliable private jet bookings for customers with specific trip needs. The company ensures that the private jet market is accessible to everyone, providing affordable pricing options for customers to get the transportation they need.


Twitter: @privatejetclubs

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