flyExclusive Lays off at least 50 employees two weeks before Christmas, on the heels of a potential IPO announcement
flyExclusive, one of Kinston’s most celebrated and prized employers and self-proclaimed fastest-growing private airlines in the country, laid off as many as 55 people on Friday, effective immediately.
On October 18, 2022, Neuse News reported, “flyExclusive to become publicly traded through business combination agreement with EG Acquisition.” flyExclusive CEO Jim Segrave stated, “flyExclusive is raising the bar in the private aviation industry and creating the best possible experience for customers, partners, and employees so we can create more moments that matter.”
On October 21, 2022, Forbes Magazine reported, “In the past seven months it has hired 150 maintenance technicians and expects to add 100 more in the coming months. Headcount overall is expected to grow from the current 800 to over 2,500. All new jobs are in Kinston, save for pilots, who are home-based, and a small technology hub, opened last year in Raleigh that taps into Research Triangle talent.”
On October 17, 2022, Private Jet Card Comparisons stated, “Fly currently operates 90 aircraft, which it expects to grow to 154 by 2024. It has over 800 employees, which will increase to around 2,500. An investor presentation shows the 2015 start-up grew revenues to $210 million last and expects $360 million this year, with a forecast of $522 million next year and $729 million in 2024.”
Neuse News has confirmed the validity of the letter to several employees dated December 16, 2022 (today) by the very person who authored the letter, Jennifer Mears, VP of Human Resources.
President of flyExclusive, Tommy Sowers sent the following message to flyExclusive staff:
