FlyExclusive reports second quarter and first half 2026 results

FlyExclusive, Inc. (FLYX) reported its second quarter and first half 2026 financial results, reflecting continued operational and financial improvements following a period of strategic transformation. The company has demonstrated progress in fleet modernization, cost reduction, and revenue diversification, with a focus on enhancing profitability and operational efficiency.

For the second quarter of 2026, FlyExclusive reported total consolidated revenue of $96.3 million, representing a 9% year-over-year increase. This growth was driven by higher flight hours, improved fleet utilization, and a shift toward higher-margin, contractually committed revenue streams. Flight hours for the quarter reached 18,537, a 7% increase compared to the same period in 2025. The company also noted a 7.6% year-over-year improvement in dispatch availability, a key indicator of operational performance.

Adjusted EBITDA turned positive in Q1 2026 at $200,000, a significant improvement from a loss of $6.4 million in Q1 2025. This turnaround was attributed to the reduction of non-performing aircraft, which decreased from 37 to six units over the past 18 months, significantly reducing financial drag. The company also highlighted the successful integration of newer aircraft, such as the Challenger 350 and CJ3, which have improved reliability and customer satisfaction.

FlyExclusive’s Jet Club membership program continued to show strong momentum, with over 1,000 members contributing to revenue in Q1 2026, marking the eighth consecutive quarter of membership growth. Fractional sales also saw a 47% year-over-year increase in retail share sales, supported by the reinstatement of 100% bonus depreciation and strong demand for the Challenger 350 platform.

The company’s MRO (Maintenance, Repair, and Overhaul) business also contributed to growth, with external revenue increasing by 14% year-over-year. FlyExclusive has expanded its capabilities, including Starlink installation and avionics upgrades, positioning itself to capture a growing market for connectivity and modernization services.

Looking ahead, FlyExclusive expects continued growth in Q2 2026, with projected revenue growth of 15% quarter-over-quarter. The company plans to add approximately 20 aircraft to its fleet in 2026, primarily CJ3s, XLS Pluses, and Challengers, which are expected to further enhance utilization and revenue. Additionally, the company anticipates closing the Jet.AI transaction in Q2 2026, which includes deposits on three Citation CJ3+ aircraft.

Despite macroeconomic challenges, including rising fuel costs and geopolitical uncertainties, FlyExclusive has maintained strong customer demand, particularly among ultra-high-net-worth individuals and corporate clients for whom private aviation is a necessity rather than a discretionary expense. The company has also implemented fuel surcharge mechanisms to mitigate the impact of rising costs on margins.

FlyExclusive’s balance sheet remains strong, with cash and cash equivalents totaling approximately $18.7 billion at the end of Q1 2026. The company has reduced long-term debt by $10 million in Q1 2026, continuing a trend of deleveraging that began in 2025. Management emphasized a disciplined approach to capital allocation, prioritizing fleet investment, debt reduction, and liquidity management.

Overall, FlyExclusive’s second quarter and first half 2026 results reflect a company in the execution phase of its transformation, with a focus on operational efficiency, fleet modernization, and sustainable growth. The company remains optimistic about its ability to deliver continued improvements in profitability and shareholder value.