FlyExclusive, Fly Alliance Form Management Services Partnership

Dow Jones11-13 06:55

FlyExclusive and Fly Alliance have established an agreement in which FlyExclusive will provide flight operations, aircraft management and maintenance support for Fly Alliance.

The agreement will bring about eight Fly Alliance aircraft, 350 members and 30 fractional owners onto FlyExclusive's operating platform. FlyExclusive is a private jet operator and Fly Alliance is a private aviation provider.

Under the agreement, Fly Alliance will retain its separate ownership, while FlyExclusive will provide support services. The deal is supposed to expand FlyExclusive's presence across jet categories and expand its managed aircraft business.

Fly Alliance will still operate separately under the leadership of Chief Executive Christopher Tasca, the companies said. The agreement builds on the companies' established partnership under which Fly Alliance adopted FlyExclusive's contrails flight management system.

The agreement came as FlyExclusive on Thursday posted a narrower loss and growth to its topline in its most recent quarter.

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