flyExclusive posted record second-quarter revenue of $111.1 million and a third consecutive quarter of positive Adjusted EBITDA, as the private aviation operator continued to improve profitability during the three months to the end of June. Revenue rose 22% year on year, while Adjusted EBITDA reached $4.2 million, compared with a loss of $5.2 million in the same period a year earlier.
Gross profit climbed about 65% to $22.7 million and gross margin expanded to 20.4%, reflecting stronger unit economics even as the fleet became smaller. Management linked the performance to lower costs, better utilisation and an ongoing fleet modernisation programme, which helped generate more revenue from fewer aircraft.
The update extends a turnaround that has now produced positive Adjusted EBITDA in each of the past three quarters. flyExclusive also guided third-quarter Adjusted EBITDA of $5 million to $7 million, indicating the improvement is expected to continue into the second half of the year.