Story ID: 
FlyExclusive Secures $25M Credit Facility
By: Kerry Lynch
Caption: Facility comes one month after FlyExclusive went public
Word Count: 168
FlyExclusive secured a $25.8 million two-year revolving credit facility that will help the company continue to evolve its fractional aircraft program. The facility is through ETG FE, an investment vehicle managed by EnTrust Global.
“We believe this facility is a strong vote of confidence in FlyExclusive’s strategy and continued initiatives to increase growth and profitability,” said FlyExclusive founder and CEO Jim Segrave. “We look forward to the continued partnership with ETG FE LLC and EnTrust Global, and believe this facility marks an important milestone in our journey to provide customers with the highest level of comfort, safety, and quality.”
The investment follows FlyExclusive's move to go public last month through a business combination with EG Acquisition—which was sponsored by EnTrust Global and GMF Capital. In addition, the company lined up a $30 million investment from the state of North Carolina to help fund a new headquarters and pilot training center, among the initiatives the fractional ownership provider has undertaken toward vertical integration.