flyExclusive Inc. reported its financial results for the third quarter of 2025, revealing a revenue increase of 19.8% to $92.1 million compared to $76.9 million in the same period last year. For the nine months ended September 30, 2025, total revenue reached $271.6 million, a 15.1% increase from $235.9 million in the prior year. Despite the revenue growth, the company experienced a net loss of $21.1 million for the quarter, an improvement from a loss of $24.1 million in Q3 2024. The nine-month net loss also decreased to $60.2 million from $85.0 million year-over-year.
The company’s operational metrics showed positive trends, with an increase in active members contributing to revenues, rising to 1,088 from 854 a year earlier. The total flight hours increased to 54,236, up from 48,862 in the previous year, indicating higher engagement levels among customers. The average aircraft on certificate remained stable at 95, while the total aircraft operated decreased to 90 from 113, reflecting ongoing fleet modernization efforts.
flyExclusive's cost of revenue increased by 16.6% to $79.5 million for the quarter, driven by higher expenses in overhaul programs, affiliate lift, and salaries. However, selling, general, and administrative expenses decreased by 2.4% to $19.5 million, reflecting the company's efforts to optimize costs. The company also reported a significant change in the gain/loss on aircraft sales, with a loss of $2.1 million compared to a gain of $3.5 million in the prior year, attributed to a favorable environment for selling aircraft in the previous period.
Strategically, flyExclusive is focused on fleet modernization, having begun the process of selling older aircraft and replacing them with newer models. The company also entered into an Aircraft Management Services Agreement with Volato Group, which is expected to enhance revenue streams. Looking ahead, flyExclusive anticipates continued revenue growth driven by fleet expansion and membership increases, although it acknowledges the potential impact of economic conditions on demand for private aviation services. The company ended the quarter with $18.7 million in cash and cash equivalents, indicating a need for ongoing capital management as it navigates its operational and financial challenges.
About FLYEXCLUSIVE INC.
FlyExclusive is a private jet operator offering aircraft management, fractional ownership, jet club memberships, and charter services. Its fleet includes Citation, Gulfstream, HondaJet, and Challenger aircraft, serving domestic and international markets. The company emphasizes safety, operational efficiency, and vertical integration through in-house maintenance and pilot training, providing a premium, customer-centric private aviation experience with cost-effective, scalable programs.
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