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Two Fast-Growing Private Jet Operators Place Orders With Textron Aviation

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Two fast-growing private jet operators placed orders with Textron Aviation yesterday in Orlando, Florida. The separate announcements by FlyExclusive and Fly Alliance took place during the National Business Aviation Association’s Business Aviation Convention & Exhibition being held here.

They came within hours of French billionaire Bernard Arnault saying he sold a jet he owned and will now rent private airplanes, specifically so his movements can’t be tracked on social media platforms like Twitter. Both companies cater to UHNWs and business executives who either don’t fly enough to own their airplanes or, like the chairman of LVMH, don’t want people to know where they are going, both for public relations and security concerns.

An annual forecast from Honeywell expects private jet deliveries in 2023 to be 17% higher this year. One-third of those surveyed expect to fly privately more in 2023 versus 2022; 64% expect to fly at least the same amount, and just 4% expect to fly less.

The first announcement came from Kinston, North Carolina-based FlyExclusive, which on Monday revealed plans to become publicly traded via a SPAC merger.

Its order includes eight Cessna Citation XLS Gen2 midsize jets and six super-midsize Longitudes starting in 2024 and 2025, respectively. It follows a $300 million order in April for 30 of Cessna’s CJ3+ light jets.

The airplanes will be used to support the company’s entrance into the fractional ownership space, currently dominated by Berkshire Hathaway’s NetJets and Directional Aviation’s Flexjet. An investor deck published on its website shows that FlyExclusive expects to have 46 airplanes in its shared ownership fleet by 2026. Currently, it has 90 airplanes it owns or leases, selling flights on a wholesale basis via brokers and other operators and through its Jet Club jet card program.

Separately, Orlando-based Fly Alliance placed an order for up to 20 Cessna Citation business jets, four firm with options for 16 additional aircraft. Like Fly Exclusive’s CJ3+ order, it was the first-time Fly Alliance purchased new aircraft. Both companies used a model of buying and leasing preowned jets and then refurbishing and repainting them.

While the North Carolina company has been exclusively flying Textron aircraft except for seven large cabin Gulfstream’s, Fly Alliance will be operating the Cessnas for the first time. Its current fleet features a half dozen Bombardier Global Express jets, eight Gulfstream GIV-SPs aircraft, four Hawker 800XPs, and a Learjet 60XR.

Fly Alliance offers on-demand charters and a jet card program and has been selling fractional shares on its preowned fleet. Christopher Tasca, President of Fly Alliance, tells Forbes while the jets are initially marked for on-demand charter and jet card customers, it is “more than likely” it will create a fractional program around the new fleet.

According to data from Argus Traqpak, Fly Exclusive was the fifth largest operator in North America in 2021, based on charter and fractional flight hours, while Fly Alliance ranked 18th.

Each is a relatively new player, but both feature management teams back for their second dance. Fly Exclusive was started in 2015 by Jim Segrave after selling Segrave Aviation to Delta Air Lines in 2010. Fly Alliance was started in 2019 by Kevin Wargo after splitting with Dumont Aviation, where he was a co-founder.

Both have benefitted from the increased demand for private flights and the fact that they are new in the jet card segment. While Fly Alliance launched a card program out of the box, Fly Exclusive didn’t launch its Jet Club until 2020. At the same time, key players like NetJets, Sentient Jet and Jet Linx Aviation, which also guarantee access to flights, had to curtail sales as demand exceeded capacity.

From 22 customers in June 0f 2020, Fly Exclusive grew Jet Club to 164 members last year and, as of this past June, had 492 clients. Fly Alliance has over 200 jet card customers since launching its program, according to Tasca.

Both orders are a win for Textron. NetJets has been rapidly adding Cessna jets to the world’s largest private jet fleet. Last year, Oxford, Mississippi-based Nicholas Air, which ranks 12th, added an additional Latitude and CJ3+s, while 17th-ranked Thrive Aviation, based in Las Vegas, announced an order for three Longitudes during the 2021 conference.


Two fast-growing private jet operators placed orders with Textron Aviation yesterday in Orlando, Florida. The separate announcements by FlyExclusive and Fly Alliance took place during the National Business Aviation Association’s Business Aviation Convention & Exhibition being held here.

They came within hours of French billionaire Bernard Arnault saying he sold a jet he owned and will now rent private airplanes, specifically so his movements can’t be tracked on social media platforms like Twitter. Both companies cater to UHNWs and business executives who either don’t fly enough to own their airplanes or, like the chairman of LVMH, don’t want people to know where they are going, both for public relations and security concerns.

An annual forecast from Honeywell expects private jet deliveries in 2023 to be 17% higher this year. One-third of those surveyed expect to fly privately more in 2023 versus 2022; 64% expect to fly at least the same amount, and just 4% expect to fly less.

The first announcement came from Kinston, North Carolina-based FlyExclusive, which on Monday revealed plans to become publicly traded via a SPAC merger.

Its order includes eight Cessna Citation XLS Gen2 midsize jets and six super-midsize Longitudes starting in 2024 and 2025, respectively. It follows a $300 million order in April for 30 of Cessna’s CJ3+ light jets.

The airplanes will be used to support the company’s entrance into the fractional ownership space, currently dominated by Berkshire Hathaway’s NetJets and Directional Aviation’s Flexjet. An investor deck published on its website shows that FlyExclusive expects to have 46 airplanes in its shared ownership fleet by 2026. Currently, it has 90 airplanes it owns or leases, selling flights on a wholesale basis via brokers and other operators and through its Jet Club jet card program.

Separately, Orlando-based Fly Alliance placed an order for up to 20 Cessna Citation business jets, four firm with options for 16 additional aircraft. Like Fly Exclusive’s CJ3+ order, it was the first-time Fly Alliance purchased new aircraft. Both companies used a model of buying and leasing preowned jets and then refurbishing and repainting them.

While the North Carolina company has been exclusively flying Textron aircraft except for seven large cabin Gulfstream’s, Fly Alliance will be operating the Cessnas for the first time. Its current fleet features a half dozen Bombardier Global Express jets, eight Gulfstream GIV-SPs aircraft, four Hawker 800XPs, and a Learjet 60XR.

Fly Alliance offers on-demand charters and a jet card program and has been selling fractional shares on its preowned fleet. Christopher Tasca, President of Fly Alliance, tells Forbes while the jets are initially marked for on-demand charter and jet card customers, it is “more than likely” it will create a fractional program around the new fleet.

According to data from Argus Traqpak, Fly Exclusive was the fifth largest operator in North America in 2021, based on charter and fractional flight hours, while Fly Alliance ranked 18th.

Each is a relatively new player, but both feature management teams back for their second dance. Fly Exclusive was started in 2015 by Jim Segrave after selling Segrave Aviation to Delta Air Lines in 2010. Fly Alliance was started in 2019 by Kevin Wargo after splitting with Dumont Aviation, where he was a co-founder.

Both have benefitted from the increased demand for private flights and the fact that they are new in the jet card segment. While Fly Alliance launched a card program out of the box, Fly Exclusive didn’t launch its Jet Club until 2020. At the same time, key players like NetJets, Sentient Jet and Jet Linx Aviation, which also guarantee access to flights, had to curtail sales as demand exceeded capacity.

From 22 customers in June 0f 2020, Fly Exclusive grew Jet Club to 164 members last year and, as of this past June, had 492 clients. Fly Alliance has over 200 jet card customers since launching its program, according to Tasca.

Both orders are a win for Textron. NetJets has been rapidly adding Cessna jets to the world’s largest private jet fleet. Last year, Oxford, Mississippi-based Nicholas Air, which ranks 12th, added an additional Latitude and CJ3+s, while 17th-ranked Thrive Aviation, based in Las Vegas, announced an order for three Longitudes during the 2021 conference.

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