Core Viewpoint - Jet.AI Inc. has announced a non-binding, non-recourse debt financing arrangement for the purchase of Bombardier Challenger 3500 aircraft valued at approximately US$280 million, which is expected to enhance the company's fleet expansion plans [1][2]. Group 1: Company Developments - The company has successfully placed a $25 million order with HondaJet, and the new $280 million order with Bombardier represents a significant scale increase in its fleet [2]. - Deliveries of the Bombardier aircraft are anticipated to commence in 2026, allowing time for pre-sales and operational preparations [2]. - Jet.AI had previously executed a non-binding letter of intent in December 2022 to acquire five Challenger 3500 jets, with the order upsized for delivery over three years starting in early 2026 [3]. Group 2: Business Segments - Jet.AI operates in two segments: Software and Aviation. The Software segment includes the B2C CharterGPT app and the B2B Jet.AI Operator platform, which enhance the private jet booking experience and provide tools for charter providers [5]. - The Aviation segment encompasses jet aircraft fractions, jet card services, on-fleet charter management, and buyer's brokerage [5]. - The company is an official partner of the Las Vegas Golden Knights, the 2023 NHL Stanley Cup champions, indicating its engagement in high-profile partnerships [5].
Jet.AI Announces Non-Recourse Debt Financing for Proposed Fleet Deal