Jet AI (JTAI) Investor update summary

Liquidity and capital structure

• Maintains $37 million in available liquidity, down slightly from $40 million at IPO in August last year.

• Simplified capital structure to a single stock (JTAI) after completing an exchange offer.

• Additional $16.5 million available through an Ionic Ventures preferred deal, with potential for debt financing.

Fleet and business model updates

• Operates five aircraft and is based in Las Vegas, a major private travel hub.

• Entered LOI and negotiated a purchase agreement for up to 10 Bombardier Challenger 3500 aircraft, with $65 million firm and $230 million in options.

• Plans to sell aircraft to groups of 4-16 customers, targeting 10% margin on sales and per-hour charges.

• Focuses on a fractional ownership model, leveraging regional customer concentration for efficiency.

• Prioritizes capital efficiency and incremental returns, avoiding rapid fleet expansion and direct aircraft ownership.

Software and technology initiatives

• CharterGPT is the main revenue-generating software, enabling natural language private jet bookings with human oversight.

• Reroute and DynaFlight are pre-revenue but expected to generate revenue in Q4.

• CharterGPT, DynaFlight, and Reroute have been upgraded to enterprise-class products, with ongoing automation to reduce human involvement.

• Reroute helps operators monetize empty legs by optimizing pricing and trip matching, with new features like trip sheets and integrated pricing tools.

• JetLeg.AI, a consumer-facing app in beta, feeds demand into Reroute and expands broker capabilities.