Jet.AI Announces Non-Recourse Debt Financing for Proposed Fleet Deal

June 4, 2024

https://www.globenewswire.com/news-release/2024/06/04/2893170/0/en/Jet-AI-Announces-Non-Recourse-Debt-Financing-for-Proposed-Fleet-Deal.html

LAS VEGAS, June 04, 2024 (GLOBE NEWSWIRE) — Jet.AI Inc. (“Jet.AI” or the “Company”) (NASDAQ:JTAI), an innovative private aviation and artificial intelligence (“AI”) company, announced the arrangement of non-binding, non-recourse, debt financing related to the proposed purchase of Bombardier Challenger 3500 aircraft valued at approximately US$280 million based on today’s list prices. The debt financing arrangement, in conjunction with the previously announced Ionic Ventures LLC financing, positions the Company well to execute on its long planned fleet order in management’s view.

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