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flyExclusive announced $25 million strategic investment from ETG FE

Download: Printable PDF Date: 27 Jan 2024 19:17 (UTC) categories:
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flyExclusive announced $25 million strategic investment from ETG FE - Business aviation publisher
Dana Ermolenko
Country: United States Aircraft: Airplanes

flyExclusive announced the execution of a two-year revolving credit facility for up to $25.8 million with ETG FE LLC, an investment vehicle managed by EnTrust Global. As part of its strategic initiatives to accelerate operational excellence, grow the business, and execute its strategic plan to become the nation’s first fully vertically integrated private aviation company, flyExclusive will use the proceeds to support the continued evolution of the company’s fractional aircraft program.

Jim Segrave, Founder and CEO of flyExclusive, commented: “We believe this facility is a strong vote of confidence in flyExclusive’s strategy and continued initiatives to increase growth and profitability. We look forward to the continued partnership with ETG FE LLC and EnTrust Global, and believe this facility marks an important milestone in our journey to provide customers with the highest level of comfort, safety, and quality.”

Back in October 2023,comapny announced that the Global TransPark secured a $30 million investment from the State of North Carolina to fund a new headquarters and cutting-edge pilot training center. As bottlenecks within the industry have increased, flyExclusive prioritizes vertical integration throughout its operations to minimize industry challenges and maintain its consistent position as a leader in luxury private jet travel.

 





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