Jetquity reached an agreement with flyExclusive to supply residual value guarantees for greater than $350 million of the fractional ownership provider’s Cessna Citation CJ3/CJ3+ business jets, together with additions akin to the CJ3 Gen 2.
FlyExclusive CEO Jim Segrave said the collaboration with Jetquity “ensures that fractional owners can spend money on our aircraft with confidence, knowing that their investments are protected. We consider it should further strengthen our position” available in the market.
Jetquity launched its business model this yr to supply financial assurance and clarity on the longer term values of aircraft. Backed by Middle Eastern sovereign wealth funds, U.S. investment firms, and a few of the largest family offices, Jetquity leverages technologies that collect data on key patterns of asset utilization versus valuation within the context of macroeconomic trends to have an accurate assessment of future aircraft residual value. Enrolled aircraft must meet certain quality-of-care standards.
“Our residual value guarantees will provide flyExclusive’s clients with a competitive edge and enable them to forecast their financial outlay much more accurately than is feasible with today’s market offerings,” said Jetquity CEO Asad Rahman. “At Jetquity, we’re committed to delivering modern and customised solutions to fulfill the evolving needs of the aviation industry. This partnership is a testament to our dedication to supporting the expansion and success of the fractional ownership program with flyExclusive.”