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Jet operator, flyExclusive's third-quarter results show a charter operator doing more with less: flying more hours with a smaller fleet while trimming the aircraft that were dragging on its margins. The company reports that its revenue was $111.1m, up 21% compared to last year. Its gross profit rose 95% to $24.6 million. The most interesting numbers covered the company's aircraft and how they were used. flyExclusive reported that it flew 19,660 hours in quarter three, which is 7% more than the third quarter of 2025. However, it also reported that it has eliminated 35 non-performing aircraft from its fleet transformation program. The remaining two aircraft in the identified non-performing fleet are under contract to be sold. Its fleet has dropped 19% in size, going from 90 revenue-generating aircraft to 73. Despite this drop, flyExclusive's dispatch availability increased from 49% to 58% since 2025. The company estimates that each percentage represents approximately $2.5 million in potential annual contribution at the current fleet size, assuming that incremental availability can be converted into productive flying. "Two years ago, we had an aircraft productivity problem that was consuming capital and limiting our ability to grow profitably," said flyExclusive founder and CEO, Jim Segrave. "Today, we're flying more hours with fewer airplanes, generating substantially higher margins and producing positive Adjusted EBITDA....We've fundamentally changed the relationship between our revenue and our operating costs. That's what our fleet transformation was designed to accomplish, and we believe the numbers are showing it. Importantly, we still have substantial room to improve. We're building a more productive fleet, increasing aircraft availability, expanding our maintenance capabilities and growing our base of committed customers. We believe the operating platform we've built can support meaningfully greater earnings power as we continue to execute." Why It Matters flyExclusive's growing utilization while shrinking its fleet shows that a large fleet of unwanted, non-performing aircraft is not nearly as valuable as a smaller fleet of desirable aircraft. Many companies are focusing on modernizing their fleets, like Wheels Up, which is increasingly concentrating on the Phenom 300 and Challenger 300 families. By removing non-performing aircraft, the company can focus on the aircraft that do generate revenue while right-sizing its fleet. With two more aircraft still earmarked for sale, flyExclusive isn't done cutting. The real test comes once the shrinking stops, and the existing fleet is tasked to fly even harder.