flyExclusive Announces Jet.AI Shareholders Approve Merger
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
lyExclusive (FLYX) announces that the special meeting of stockholders of Jet.AI (JTAI), held in connection with the previously announced merger of Jet.AI and flyExclusive, concluded on July 2. flyExclusive announced that Jet.AI stockholders have approved the previously announced merger, satisfying one of the final conditions required to complete the transaction. The companies expect to close the merger on or about July 7, subject to the remaining customary closing conditions. The approval removes a significant transaction milestone and allows management to remain focused on executing the Company's operating strategy and continuing its recent financial momentum.
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About FLYX
Flyexclusive Inc. is a vertically integrated private aviation company providing charter, Jet Club membership, and fractional ownership services worldwide. It operates its private jet fleets in the United States, with full operational control over maintenance, refurbishment, and avionics through its in-house MRO facilities in Kinston, North Carolina. It is a premier owner and operator of curated private aviation experiences dedicated to surpassing passenger expectations for quality, convenience, and safety. T operates a selected fleet of Cessna Citation, Gulfstream, HondaJet, and Challenger aircraft to service customers flying domestically and internationally. It has curated a versatile fleet of Citation CJ3 / CJ3+, Citation Excel / XLS / XLS+, Citation Encore+, Citation Sovereign, Citation X, and Challenger 350 aircraft. It has a diversified and evolving business model, including a jet club membership program, fractional program, and maintenance, repair, and overhaul (MRO) program.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Jet.AI Shareholders Approve Merger Plan with flyExclusive
- Shareholder Vote Outcome: Jet.AI shareholders voted to approve the merger plan with flyExclusive at a special meeting on July 2, 2026, satisfying a key condition for transaction completion, with closure expected around July 7, 2026, marking a significant advancement in the company's strategic execution.
- Strong Financial Performance: flyExclusive reported revenue of $96.4 million in Q1 2026, a year-over-year increase of approximately 9%, with flight hours reaching 18,537, one of the highest quarters in the company's history, demonstrating robust operational momentum and sustained market demand.
- Operational Efficiency Gains: The company reported positive Adjusted EBITDA for the second consecutive quarter in Q1 2026, improving by $6.6 million compared to the prior year, indicating significant progress in enhancing profitability and operational efficiency, thereby strengthening its competitive position in the market.
- Long-term Strategic Focus: Following the merger, flyExclusive will continue to prioritize operational efficiency, recurring revenue growth, and profitability, which is expected to further solidify its leadership position in the North American private aviation market and create long-term value for shareholders.
See More
Jet.AI Reports Majority Support for Merger with flyExclusive
- Shareholder Vote Outcome: As of the record date of July 6, 2026, Jet.AI's shareholders have voted in favor of the merger with flyExclusive during the Special Meeting, surpassing the required approval threshold, indicating strong market confidence in the transaction.
- Merger Timeline: The Special Meeting will reconvene on July 2, 2026, at 4:00 p.m. Eastern Time, with the transaction expected to close around July 7, 2026, subject to customary closing conditions, ensuring timely receipt of merger consideration for shareholders.
- Voting Accessibility: Shareholders can vote online, by phone, or by mail, with a deadline of July 1, 2026, at 11:59 p.m. Eastern Time, enhancing shareholder engagement and transparency in the voting process.
- Transparency in Disclosure: Jet.AI has filed the registration statement and definitive proxy statement with the SEC regarding the merger, ensuring shareholders have access to all critical information to make informed voting decisions, reflecting the company's commitment to compliance and transparency.
See More
Jet.AI Reports Majority Support for Merger with flyExclusive
- Shareholder Vote Outcome: As of July 6, 2026, Jet.AI's shareholders have voted in favor of the merger with flyExclusive during the Special Meeting, surpassing the required majority, indicating strong market confidence in the transaction.
- Merger Timeline: The Special Meeting will reconvene on July 2, 2026, at 4:00 p.m. Eastern Time, with the transaction expected to close around July 7, 2026, subject to final shareholder approval and customary closing conditions, ensuring a smooth merger process.
- Voting Accessibility: Shareholders can vote online, by phone, or by mail, with a deadline of 11:59 p.m. Eastern Time on July 1, 2026, to ensure their votes are counted, enhancing shareholder engagement and transparency in the process.
- Future Prospects: This merger positions Jet.AI to leverage flyExclusive's resources and market advantages, further strengthening its competitive edge in high-performance GPU infrastructure and AI cloud services, signaling significant growth potential for the company.
See More
flyExclusive Reaffirms Strategic Priorities for 2026 Amid Jet.AI Merger Update
- Strategic Focus: flyExclusive's CEO Jim Segrave reaffirmed the company's strategic priorities for 2026, emphasizing improving profitability, strengthening the balance sheet, increasing aircraft utilization, and creating long-term shareholder value, which reflects the company's strong confidence in future growth.
- Merger Progress: At the reconvened Special Meeting of Jet.AI stockholders, 688,285 shares (approximately 48.4%) have voted in favor of the merger, indicating broad support among shareholders, with approval expected within the coming week.
- Voting Results: Approximately 99% of votes cast supported the merger, with only 22,500 additional votes needed to meet the majority requirement, further solidifying flyExclusive's market position and shareholder confidence in the transaction.
- Operational Performance: flyExclusive flew over 7,000 hours last month, achieving the highest utilization in its history, demonstrating ongoing improvements in operational execution and rapid financial performance enhancement, thereby strengthening its competitive edge in the private aviation market.
See More
Overview of Jet.AI's Transaction with flyExclusive
- Voting Status: As of June 16, 2026, approximately 37.9% of outstanding shares had voted, with 98.3% in favor of the transaction, indicating strong shareholder support that is likely to drive Jet.AI's stock price higher.
- Transaction Structure: Jet.AI shareholders will receive shares in flyExclusive while retaining their existing Jet.AI shares; if the transaction is approved by a majority, shareholders will hold stocks in two companies, enhancing portfolio diversity.
- Asset Transfer and Premium: In the deal, flyExclusive will acquire Jet.AI's aviation assets at a premium of 110%-120%, which not only increases the value of Jet.AI's assets but also provides shareholders with additional market value, likely attracting more investor interest.
- Strategic Shift: By divesting its aviation business, Jet.AI will focus on high-growth AI infrastructure, allowing it to allocate more resources to the development of AI and data centers, which is expected to enhance the company's long-term growth potential.
See More
Jet.AI Urges Shareholders to Vote 'FOR' Milestone Deal
- Voting Importance: Jet.AI has announced a Special Meeting of Stockholders on June 11, 2026, urging shareholders to vote 'FOR' the transaction with flyExclusive, as not voting will be treated as a vote against, highlighting the significance of every single share.
- Transaction Structure Benefits: Upon successful completion of the deal, Jet.AI shareholders will receive shares of flyExclusive while retaining 100% of their Jet.AI equity, transforming the company into a pure-play AI infrastructure provider, thereby enhancing its competitive position in the market.
- Asset Integration Benefits: Jet.AI's aviation assets will be integrated into flyExclusive's platform, allowing for greater aircraft utilization and providing more choices for customers, which is expected to enhance customer satisfaction and market share.
- Strategic Transformation Outlook: This transaction will enable Jet.AI to focus entirely on high-performance GPU infrastructure and B2B AI cloud services, which is anticipated to accelerate the company's growth potential in the rapidly evolving AI market.
See More
Jet.AI Shareholders Approve Merger Plan with flyExclusive
- Shareholder Vote Outcome: Jet.AI shareholders voted to approve the merger plan with flyExclusive at a special meeting on July 2, 2026, satisfying a key condition for transaction completion, with closure expected around July 7, 2026, marking a significant advancement in the company's strategic execution.
- Strong Financial Performance: flyExclusive reported revenue of $96.4 million in Q1 2026, a year-over-year increase of approximately 9%, with flight hours reaching 18,537, one of the highest quarters in the company's history, demonstrating robust operational momentum and sustained market demand.
- Operational Efficiency Gains: The company reported positive Adjusted EBITDA for the second consecutive quarter in Q1 2026, improving by $6.6 million compared to the prior year, indicating significant progress in enhancing profitability and operational efficiency, thereby strengthening its competitive position in the market.
- Long-term Strategic Focus: Following the merger, flyExclusive will continue to prioritize operational efficiency, recurring revenue growth, and profitability, which is expected to further solidify its leadership position in the North American private aviation market and create long-term value for shareholders.
See More
Jet.AI Reports Majority Support for Merger with flyExclusive
- Shareholder Vote Outcome: As of the record date of July 6, 2026, Jet.AI's shareholders have voted in favor of the merger with flyExclusive during the Special Meeting, surpassing the required approval threshold, indicating strong market confidence in the transaction.
- Merger Timeline: The Special Meeting will reconvene on July 2, 2026, at 4:00 p.m. Eastern Time, with the transaction expected to close around July 7, 2026, subject to customary closing conditions, ensuring timely receipt of merger consideration for shareholders.
- Voting Accessibility: Shareholders can vote online, by phone, or by mail, with a deadline of July 1, 2026, at 11:59 p.m. Eastern Time, enhancing shareholder engagement and transparency in the voting process.
- Transparency in Disclosure: Jet.AI has filed the registration statement and definitive proxy statement with the SEC regarding the merger, ensuring shareholders have access to all critical information to make informed voting decisions, reflecting the company's commitment to compliance and transparency.
See More
Jet.AI Reports Majority Support for Merger with flyExclusive
- Shareholder Vote Outcome: As of July 6, 2026, Jet.AI's shareholders have voted in favor of the merger with flyExclusive during the Special Meeting, surpassing the required majority, indicating strong market confidence in the transaction.
- Merger Timeline: The Special Meeting will reconvene on July 2, 2026, at 4:00 p.m. Eastern Time, with the transaction expected to close around July 7, 2026, subject to final shareholder approval and customary closing conditions, ensuring a smooth merger process.
- Voting Accessibility: Shareholders can vote online, by phone, or by mail, with a deadline of 11:59 p.m. Eastern Time on July 1, 2026, to ensure their votes are counted, enhancing shareholder engagement and transparency in the process.
- Future Prospects: This merger positions Jet.AI to leverage flyExclusive's resources and market advantages, further strengthening its competitive edge in high-performance GPU infrastructure and AI cloud services, signaling significant growth potential for the company.
See More
flyExclusive Reaffirms Strategic Priorities for 2026 Amid Jet.AI Merger Update
- Strategic Focus: flyExclusive's CEO Jim Segrave reaffirmed the company's strategic priorities for 2026, emphasizing improving profitability, strengthening the balance sheet, increasing aircraft utilization, and creating long-term shareholder value, which reflects the company's strong confidence in future growth.
- Merger Progress: At the reconvened Special Meeting of Jet.AI stockholders, 688,285 shares (approximately 48.4%) have voted in favor of the merger, indicating broad support among shareholders, with approval expected within the coming week.
- Voting Results: Approximately 99% of votes cast supported the merger, with only 22,500 additional votes needed to meet the majority requirement, further solidifying flyExclusive's market position and shareholder confidence in the transaction.
- Operational Performance: flyExclusive flew over 7,000 hours last month, achieving the highest utilization in its history, demonstrating ongoing improvements in operational execution and rapid financial performance enhancement, thereby strengthening its competitive edge in the private aviation market.
See More
Overview of Jet.AI's Transaction with flyExclusive
- Voting Status: As of June 16, 2026, approximately 37.9% of outstanding shares had voted, with 98.3% in favor of the transaction, indicating strong shareholder support that is likely to drive Jet.AI's stock price higher.
- Transaction Structure: Jet.AI shareholders will receive shares in flyExclusive while retaining their existing Jet.AI shares; if the transaction is approved by a majority, shareholders will hold stocks in two companies, enhancing portfolio diversity.
- Asset Transfer and Premium: In the deal, flyExclusive will acquire Jet.AI's aviation assets at a premium of 110%-120%, which not only increases the value of Jet.AI's assets but also provides shareholders with additional market value, likely attracting more investor interest.
- Strategic Shift: By divesting its aviation business, Jet.AI will focus on high-growth AI infrastructure, allowing it to allocate more resources to the development of AI and data centers, which is expected to enhance the company's long-term growth potential.
See More
Jet.AI Urges Shareholders to Vote 'FOR' Milestone Deal
- Voting Importance: Jet.AI has announced a Special Meeting of Stockholders on June 11, 2026, urging shareholders to vote 'FOR' the transaction with flyExclusive, as not voting will be treated as a vote against, highlighting the significance of every single share.
- Transaction Structure Benefits: Upon successful completion of the deal, Jet.AI shareholders will receive shares of flyExclusive while retaining 100% of their Jet.AI equity, transforming the company into a pure-play AI infrastructure provider, thereby enhancing its competitive position in the market.
- Asset Integration Benefits: Jet.AI's aviation assets will be integrated into flyExclusive's platform, allowing for greater aircraft utilization and providing more choices for customers, which is expected to enhance customer satisfaction and market share.
- Strategic Transformation Outlook: This transaction will enable Jet.AI to focus entirely on high-performance GPU infrastructure and B2B AI cloud services, which is anticipated to accelerate the company's growth potential in the rapidly evolving AI market.
See More
