Jet AI (JTAI) Investor update summary

Liquidity and capital structure

• Available liquidity stands at $37 million, down slightly from $40 million at the time of public listing.

• Additional $16.5 million Ionic Ventures facility available for fleet expansion down payment.

• Completed an exchange offer to simplify capital structure to one stock.

Fleet and business model update

• Operates five aircraft, with plans to expand via a $65 million firm order (up to $300 million with options) for Challenger 3500 jets.

• Model focuses on customers owning aircraft, with management and operations handled in-house.

• Targets 10% margin on aircraft sales and 10% on per-hour flight charges, plus $2 for every $1 of overhead.

• Disciplined, gradual fleet growth strategy, recently selling a HondaJet for superior returns.

Software and technology initiatives

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

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

• JetLeg.AI, a consumer version of Reroute, is in beta and aims to drive incremental demand.

• Ongoing enhancements to automate broker tasks and contract reconciliation using AI.