Jet.AI Inc. Stock Price, News & Analysis

Jet.AI (NASDAQ: JTAI) has launched pre-sales for fractional ownership interests in its upcoming Cessna Citation CJ4 Gen2 aircraft, following its initial order with Textron Aviation on November 22, 2024. The program features nationwide access with 48-hour call-out, guaranteed availability, and immediate travel options on the company's existing fleet while awaiting the first CJ4 delivery in Q2 2026.

The program includes fleet flexibility with inter-aircraft type exchanges, personalized service, and competitive pricing. According to Founder Mike Winston, this expansion addresses customer demands for larger airframes and national coverage, highlighting the CJ4's range, cabin amenities, and reliability record.

Jet.AI has received official confirmation from Nasdaq that it has regained compliance with both the $2.5 million minimum stockholders' equity requirement and the minimum bid price requirement of $1.00. As of November 26, 2024, the company reported approximately $6.8 million in pro-forma shareholders' equity and $6.1 million in cash and cash equivalents. The company will be subject to a Mandatory Panel Monitor for one year, during which any non-compliance with the Equity Rule could lead to immediate delisting proceedings without a compliance plan opportunity.

Jet.AI has signed a fleet purchase agreement with Textron Aviation for three Cessna Citation CJ4 Gen2 aircraft, scheduled for delivery in Q2, Q3, and Q4 of 2026. The aircraft will be part of a new fractional ownership program, expanding Jet.AI's current fleet which includes three HondaJets, one Citation CJ4, and a King Air 350i. The CJ4 Gen2 is a nine-passenger light jet featuring high speed, 45,000-ft flight ceiling, advanced avionics, and luxurious accommodations. This acquisition complements the company's existing super-mid fleet expansion plans.

Jet.AI (Nasdaq: JTAI) announced it believes it has regained compliance with Nasdaq's minimum stockholders' equity requirement. The company, which had fallen below the $10 million requirement with a deficit of $(3,963,039) as of December 31, 2023, now reports stockholders' equity of $4 million and cash position of $3.6 million, exceeding the $2.5 million minimum requirement for The Nasdaq Capital Market. The company has no debt and approximately 840,000 shares outstanding. This follows their transfer to The Nasdaq Capital Market on August 14, 2024, and completion of transactions detailed in their November 18, 2024 Form 8-K filing.

Jet.AI (NASDAQ: JTAI) reported Q3 2024 financial results with revenues of $3.9 million, up $0.5M year-over-year. Software App and Cirrus Charter revenue reached $2.4 million, while Management Services revenue was $960,000. The company reported an operating loss of $2.9 million, improved from $4.3M last year. Key developments include a $2M share repurchase program, aircraft purchase agreements with Textron and Bombardier for deliveries in 2026-2027, and advancements in CharterGPT AI technology. Cash position stood at $2.5M as of November 14, 2024.

Jet.AI (NASDAQ: JTAI) announced that its board has authorized a $2 million share repurchase program through December 31st, 2025. The company can buy back shares at its discretion, subject to market conditions and regulations. Simultaneously, Jet.AI is withdrawing its S-1 registration statement for a previously planned offering, determining that the terms were not aligned with current strategic objectives. The company expects to regain compliance with NASDAQ's listing rules related to stockholders' equity and plans to file a moot notice before the November 26th deadline.

Jet.AI (Nasdaq: JTAI) announced a 1-for-225 reverse stock split effective November 12, 2024. The stock will continue trading on Nasdaq under JTAI with a new CUSIP number 47714H308. This corporate action aims to regain compliance with Nasdaq's minimum bid price requirement and make additional shares available for future issuance. Every 225 shares will automatically convert to one share, maintaining the same par value. No fractional shares will be issued; affected stockholders will receive cash payments instead. Proportional adjustments will be made to equity awards, convertible preferred stock, and warrants.

Jet.AI announced a 1-for-225 reverse stock split effective November 12, 2024. The company's stock will continue trading on Nasdaq under symbol JTAI with new CUSIP number 47714H308. The split aims to regain compliance with Nasdaq's minimum bid price requirement and make additional shares available for future issuance. Every 225 shares will automatically convert to one share, with fractional shares rounded up. The split won't change par value or total authorized shares. Proportional adjustments will apply to equity awards, convertible preferred stock, and warrants.

Jet.AI (NASDAQ: JTAI) announced its participation in Corporate Jet Investor Miami 2024, scheduled for November 11-13, 2024, at the Fontainebleau Miami Beach. Company Founder and Executive Chairman Mike Winston will speak about green business aviation on November 13. The event will connect 500 industry leaders from 200 organizations. During the panel session, the Company will discuss its DynoFlight 2.0 platform, an AI-powered aviation carbon management solution that enables users to monitor emissions, interact with AI for emissions data, and track compliance with NBAA sustainable flight standards.