Jet.AI begins pre-sales for fractional ownership in Cessna Citation CJ4 Gen2 aircraft, offering nationwide access and personalized service.
Quiver AI Summary
Jet.AI Inc., a private aviation and AI company, has begun pre-sales for fractional ownership of its forthcoming Cessna Citation CJ4 Gen2 aircraft, following a recent order from Textron Aviation. Founder and Executive Chairman Mike Winston highlighted the demand for a larger aircraft and a national reach, emphasizing the CJ4's range, cabin comfort, and reliable track record. The program features benefits like nationwide access with guaranteed availability, immediate travel options on existing aircraft, flexibility to select different planes for various missions, and personalized service. Jet.AI aims to provide competitive pricing and exceptional quality, positioning fractional ownership as a viable alternative to conventional aircraft purchases.
Potential Positives
- Jet.AI has announced the commencement of pre-sales for fractional ownership in the new Cessna Citation CJ4 Gen2 aircraft, indicating strong demand and expansion of its product offerings.
- The fractional ownership program provides nationwide access and guaranteed availability, catering to customer needs for flexibility and convenience in private aviation.
- The program allows customers to start traveling immediately with the existing fleet, enhancing customer satisfaction and retention while waiting for the new aircraft deliveries.
- The announcement aligns with Jet.AI's strategy to enhance the private aviation experience through tailored services and competitive pricing, which could position the company favorably against competitors in the market.
Potential Negatives
- The announcement of pre-sales for fractional ownership interests may indicate that Jet.AI is struggling to secure traditional funding or sales, leading them to rely on advance sales for a new aircraft that will not be delivered until 2026.
- The mention of significant production lead times at private jet manufacturers suggests potential supply chain issues that could hinder Jet.AI's ability to fulfill customer expectations on time.
- Forward-looking statements included in the press release highlight uncertainties in future performance and financial results, suggesting a lack of confidence in the company's upcoming ventures.
FAQ
What is Jet.AI's recent announcement about?
Jet.AI has commenced pre-sales for fractional ownership interests in its upcoming Cessna Citation CJ4 Gen2 aircraft.
What are the key features of the CJ4 fractional ownership program?
The program offers nationwide access, fleet flexibility, personalized service, competitive pricing, and the option to fly now on existing aircraft.
How does fractional ownership benefit customers?
Fractional ownership allows customers to own part of an aircraft, providing tax benefits and ensuring usage without the burdens of sole ownership.
When will the first new CJ4 aircraft be delivered?
The first new CJ4 is expected to be delivered in the second quarter of 2026.
Where can I get more information about Jet.AI's offerings?
For more details, visit Jet.AI's website at or contact Kienan Franklin at kienan@jet.ai.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$JTAI Insider Trading Activity
$JTAI insiders have traded $JTAI stock on the open market 3 times in the past 6 months. Of those trades, 3 have been purchases and 0 have been sales.
Here's a breakdown of recent trading of $JTAI stock by insiders over the last 6 months:
- MICHAEL D. WINSTON (Exec. Chairman; Interim CEO) purchased 4,130,503 shares.
- GEORGE III MURNANE (Interim CFO) purchased 7 shares.
- PATRICK MCNULTY (Chief Operating Officer) purchased 7 shares.
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$JTAI Hedge Fund Activity
We have seen 21 institutional investors add shares of $JTAI stock to their portfolio, and 12 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CCG WEALTH MANAGEMENT, LLC added 181,829 shares (+inf%) to their portfolio in Q3 2024
- CLEAR STREET LLC added 100,110 shares (+inf%) to their portfolio in Q3 2024
- STATE STREET CORP removed 76,558 shares (-99.6%) from their portfolio in Q3 2024
- OCONNOR, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS (LLC) added 58,993 shares (+inf%) to their portfolio in Q3 2024
- UBS GROUP AG added 58,808 shares (+inf%) to their portfolio in Q3 2024
- VANGUARD GROUP INC removed 42,788 shares (-99.6%) from their portfolio in Q3 2024
- TWO SIGMA SECURITIES, LLC added 42,164 shares (+inf%) to their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LAS VEGAS, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Jet.AI Inc. (
"
Jet.AI" or the
"
Company") (NASDAQ: JTAI)
, an innovative private aviation and artificial intelligence company, announced the commencement of pre-sales for fractional ownership interests in its upcoming Cessna Citation CJ4 Gen2 aircraft. This development follows the Company's
initial order
with Textron Aviation Inc. for CJ4 aircraft on November 22, 2024.
Jet.AI Founder and Executive Chairman Mike Winston stated: "For years customers and prospects have asked us to offer a larger airframe and a national footprint; finally, that day has come. The CJ4 has outstanding range and cabin amenities along with a fifteen-year track record of exceptional reliability. Production lead times at all private jet manufacturers are a year or more, and have been that way for four or five years now. Fractional customers who want interests in new planes have largely come to accept the same delivery cadence as whole aircraft buyers. The sale of the jet in advance of its actual delivery has favorable financial characteristics and is consistent with our philosophy that the traveler should own the plane (and get the write-off), instead of the operator."
Source: Textron Aviation
Source: Textron Aviation
Key Features of the CJ4 Fractional Ownership Program:
Nationwide Access
: A nationwide footprint with 48-hour call-out and guaranteed availability.
Fly Now
: Start traveling now on the Company's existing fleet in advance of delivery of the first new CJ4 in 2Q26.
Fleet Flexibility
: Owners can interchange across all aircraft types off-fleet, ensuring the right aircraft for every mission.
Personalized Service
: The program is designed to deliver an extraordinary degree of personal attention, tailored to meet the unique needs of every owner.
Competitive Pricing
: Offering exceptional value while maintaining the highest standards of quality and service.
For more information about fractional ownership opportunities with Jet.AI, please visit
or contact Kienan Franklin at
kienan@jet.ai
or 303-335-8958.
About Jet.AI
Jet.AI operates in two segments, Software and Aviation, respectively. The Software segment features the B2C CharterGPT app and the B2B Jet.AI Operator platform. The CharterGPT app uses natural language processing and machine learning to improve the private jet booking experience. The Jet.AI operator platform offers a suite of standalone software products to enable FAA Part 135 charter providers to add revenue, maximize efficiency, and reduce environmental impact. The Aviation segment features jet aircraft fractions, jet card, on-fleet charter, management, and buyer's brokerage. Jet.AI is an official partner of the Las Vegas Golden Knights, 2023 NHL Stanley Cup
champions. The Company was founded in 2018 and is based in Las Vegas, Nevada and San Francisco, California.
Forward-Looking Statements
This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of the federal securities laws, including the safe harbor provisions under the Private Securities Litigation Reform Act of 1995, with respect to the products and services offered by Jet.AI and the markets in which it operates, and Jet.AI's projected future results. Statements that are not historical are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements relate to future events or our future performance or future financial condition. These forward-looking statements are not historical facts, but rather are based on current expectations, estimates and projections about our Company, our industry, our beliefs and our assumptions. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result," and similar expressions or the negative of these terms or other similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties that could cause the actual results to differ materially from the expected results. As a result, caution must be exercised in relying on forward-looking statements, which speak only as of the date they were made. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Company's most recent Annual Report on Form 10-K, Registration Statement on Form S-4, filed June 27, 2024, and amended on July 11, 2024, Registration Statement on Form S-1, filed and amended on September 3, 2024, and subsequent reports filed by the Company with the Securities and Exchange Commission, as such factors may be updated from time to time in the Company's periodic filings with the SEC, which are accessible on the SEC's website at
www.sec.gov
. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.
New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements we may make. In light of these risks, uncertainties, and assumptions, the forward-looking events and circumstances discussed in this press release may not occur, and actual results could differ materially and adversely from those anticipated.
Readers are cautioned not to put undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and Jet.AI assumes no obligation and does not intend to update or revise these forward-looking statements, whether because of new information, future events, or otherwise, except as provided by law.
Contacts:
Investor Relations:
Gateway Group, Inc.
+1-949-574-3860
Jet.AI@gateway-grp.com
Company:
Kienan Franklin
VP Sales
+1-303-335-8958
kienan@jet.ai