Jet.AI stockholders approve merger with flyExclusive, close set for July 7

Jet.AI Inc. (NASDAQ: JTAI) stockholders voted to approve a merger with flyExclusive, Inc. (NYSE American: FLYX) at a special meeting held July 2, 2026, satisfying one of the final conditions required to complete the transaction. The companies expect to close the deal on or about July 7, 2026, subject to remaining customary closing conditions.

Upon closing, Jet.AI stockholders of record as of the close of business on July 6, 2026 are expected to receive the merger consideration described in the definitive proxy statement/prospectus while retaining their existing Jet.AI shares.

flyExclusive reported revenue of $96.4 million for the first quarter of 2026, an increase of approximately 9% year over year, driven by a 7% increase in flight hours to 18,537. The company also reported positive Adjusted EBITDA for the second consecutive quarter, with a $6.6 million improvement over the prior-year period.

In May 2026, flyExclusive ranked as the number one North American Part 135 operator by both flight hours and flight count, according to ARGUS TRAQPak data, surpassing 7,000 flight hours in the month.

"With stockholder approval now behind us, we're focused on executing. We continue to modernize our fleet, expand our recurring revenue base, and build one of the largest and most efficient private aviation platforms in North America," said Jim Segrave, Founder, Chairman and Chief Executive Officer of flyExclusive.

The information in this article is based on a press release issued by flyExclusive.

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