KINSTON – Days after private jet company flyExclusive opened a new hanger at its Kinston headquarters that is expected to employ as many as 200 new workers, the company has announced that it will add 14 additional aircraft to its fleet.

In a deal announced on Tuesday, the company will purchase eight Cessna Citation XLS Gen2 aircraft that will be delivered in 2024, and could purchase up to Citation Longitudes, the first two of which would be delivered in 2025.

“This agreement reinforces flyExclusive’s rapid growth and further bolsters the company’s offerings in the fractional space. We continue to elevate the private flying experience, delivering consistent, reliable, and world-class service for our customers,” said Jim Segrave, Chairman and CEO, flyExclusive, in a statement.

Take off: Private jet company flyExclusive to go public in $600M deal

Taking off

Kinston-headquartered flyExclusive announced that it would be taking the company public through a business combination with a special purpose acquisition company, or SPAC, on Monday.

That deal is expected to bring in $85 million in cash once the deal is completed, with an additional $225 million in cash that will be held in trust by the SPAC.

In a statement announcing the SPAC merger, flyExclusive noted that the proceeds from the deal would be “primarily used” for the “acquisition of additional aircraft and for related expenses.”

Once delivered, the new aircraft “provide customers of flyExclusive Fractional additional options in the midsize and super-midsize segments,” the statement notes.

Earlier this year, the company signed a deal to purchase up to 30 Cessna Citation CJ3+ light jets.

At an event last week marking the ribbon-cutting of the new facility, Seagrave noted that the firm’s growth rate was 54% and highlighted the company’s growing market share in the private charter jet industry. Part of that growth is led by the firm’s 94% retention rate for its membership service, which the company expects to continue to expand as it adds additional jets to the company fleet.

New flyExclusive expansion in Kinston to bring 200 more jobs to Eastern NC