Private aviation operator flyExclusive has taken delivery of its first three Citation CJ3+ jets which will go into its new fractional fleet. This brings the total fleet size to over 100 aircraft, comprised of mainly Cessna Citation jets.
Background
Rapidly growing flyExclusive has historically focused on providing jet charter and growing its JetClub – jet card type product. The Jet Club has added many hundreds of members since it was launched a few years ago.
Fractional Citation CJ3+
The fractional offering is a newer product for the company, which was announced last year when they placed an order for up to 30 Cessna Citation CJ3+ light jets. The first of these planes have just been delivered and flyExclusive already has almost 30 fractional customers.
Fractional aircraft are a new, but very much a growing focus for the company.
After ordering the light jets, they placed another order with Textron Aviation, to purchase eight Cessna Citation XLS Gen2 mid-size jets to be delivered in 2024, and up to six Citation Longitudes super-mid jets, with initial deliveries of the first two Longitude aircraft expected in 2025.
“We will start taking deposits sometime next year” said Jim Segrave, Founder and CEO of flyExclusive, talking about the new, larger aircraft that are coming into the fractional program.
The flyExclusive fractional program does not have a monthly fee - unlike most fractional agreements - but instead mirrors the pricing structure in the Jet Club, with a flat daily usage charge and then an hourly usage fee.
Fleet Growth
The company operates a fleet of mainly Cessna Citation jets, with a few Gulfstreams to build out the large cabin capacity. It is the second largest operator of Citation jets.
“Owning and maintaining our own fleet has been core to the success and growth of our business. We’ve acquired our fleet of now 100 jets in a disciplined, deliberate way. This helps us meet pre-existing demand, control the quality of our experience, and make every minute matter for our customers. We are building something special, and I look forward to the next steps for our growing company,” said Jim Segrave.
Simulator Additions
From its early days the company has been very integrated with its own maintenance facilities and paint shop at the headquarters in Kinston, NC. The latest planned additions to this are a new headquarters and training building. This will house up to five, full-motion flight simulators, to allow the company to train and certify its own pilots and reduce a lengthy backlog in the nation’s pilot training pipeline. The facility will also include 14,000 square-feet in classrooms and training spaces, a rooftop terrace and a 22,000 square-foot air operations center.
Jim Segrave told SherpaReport that they are initially ordering three simulators for the CJ3, XLS, and Longtitude platforms. With two more to be added in the future.
The company expects that once the simulators are functional, they will be able to reduce the amount of time new pilot hires must wait for outside training, giving the company an advantage as it competes for talent in one of the tightest labor markets in the United States.
There is a real shortage of qualified pilots, and training capacity is something we’ve heard mentioned by many operators, so it’s an interesting move to add this capacity in house.