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flyExclusive Awarded Part 21 Certification
Certification expands flyExclusive’s Maintenance, Repair, and Overhaul (MRO) services on third-party aircraft, while furthering the Company’s vertically-integrated strategy
KINSTON, NC (April 8, 2024) – flyExclusive (NYSEAMERICAN: FLYX) (“flyExclusive” or the “Company”), a publicly-traded provider of premium private jet charter experiences, today announced that the Federal Aviation Administration has approved flyExclusive as a Parts Manufacturer under Part 21 of the FAA’s Code of Federal Regulations. This certification follows the Company’s previously announced Part 145 certification.
“The secret to our success is vertical integration. Having an MRO operation that holds Part 21 certification will help us further control the safety and quality of the experience we provide to our customers,” said Jim Segrave, Founder and CEO of flyExclusive. “It is easier to deliver on high expectations when you control what is going on behind the scenes. I am proud of our MRO team, who have put in the hard work to secure this certification.”
Part 21 certification gives flyExclusive approval to build and sell products, articles and parts on third-party aircraft in addition to its own fleet of jets. The certification signifies a high standard of quality and safety across all aircraft.
flyExclusive’s team will perform these services out of the Company’s six-hangar MRO facility on its Kinston campus. The state-of-the-art, 12,000 square foot facility runs 24 hours a day, seven days a week.
About flyExclusive
flyExclusive is a vertically integrated, FAA regulated operator of private jet experiences offering customers on-demand charter, JetClub, and fractional jet services to destinations across the globe. As one of the world’s largest owner/operators of Cessna Citation aircraft, flyExclusive owns a floating fleet of more than 100 light to heavy jets. The company manages all aspects of the customer experience, ensuring that every flight is on a modern, comfortable, and safe aircraft. flyExclusive’s in-house Maintenance, Repair and Overhaul services, including paint, interiors, and avionics capabilities, are provided from its campus headquarters in Kinston, North Carolina. To learn more, visit www.flyexclusive.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements generally are identified by the words “believe,” “project,” “expect,” “anticipate,” “estimate,” “intend,” “strategy,”“future,” “opportunity,” “plan,” “may,” “should,” “will,” “would,” “will be,”“will continue,” “will likely result,” and similar expressions. Forward-looking statements are predictions, projections, and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this document, including but not limited to: the ability of the Company to repay its debt; management of growth; the outcome of any legal proceedings; the ability to maintain the listing of the Company’s securities on a national securities exchange; volatility of the price of the Company’s securities due to a variety of factors, including changes in the competitive and highly regulated industries in which flyExclusive operates, variations in operating performance across competitors, changes in laws and regulations affecting flyExclusive’s business; the ability to implement business plans, forecasts, and other expectations, and identify and realize additional opportunities; and the risk of downturns and a changing regulatory landscape in the highly competitive aviation industry. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties described in the “Risk Factors” section of flyExclusive’s registration statement on Form S-1 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. The Company does not give any assurance that it will achieve its expectations.
MediaContact: Jillian Wilson, Marketing Specialist
InvestorRelations Contact:Sloan Bohlen, Solebury Strategic Communications
Released April 8, 2024
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