Business TransitionJet.AI announced a definitive agreement to sell its aviation businesses to flyExclusive in an all-stock transaction, retaining its brokerage, software, and AI businesses, which are expected to be higher margin.
Financial PositionThe company has $8.3M in cash and no debt, with a $50M non-binding term sheet for an equity line of credit, indicating a strong financial position.
Growth PotentialJet.AI's CharterGPT app grew its user base significantly in less than a year and processed substantial requests for quotes, indicating strong interest and growth potential.