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Wednesday, May 22, 2024

flyExclusive President Sowers resigns

Tommy Sowers, the president of Kinston-based flyExclusive, resigned from the charter-flight company on Wednesday, three months after it went public.

Sowers will leave the company on April 11.

In a note posted on LinkedIn, Sowers wrote, “My family needs me through my wife’s cancer treatment. While I love my work family, my family comes first, and I hope you understand.”

Sowers joined the company, which has more than 800 employees and 100 jets, in July 2021. In the first 18 months, he rebuilt and led the senior leadership team, grew headcount 80% and increased revenue 70%.

FlyExclusive went public in late December 2023 via a combination with a New York special purpose acquisition company. FlyExclusive is the fifth-largest U.S. charter/fractional private jet operator. Peers Surf Air, Jet.AI and Volato have also had IPOs in the past year.

“For someone without aviation experience before taking on this role, thank you for your patience in teaching me so much,” said Sowers in his LinkedIn note. “While I will not take a direct role in it, I’ll be excited to watch flyExclusive’s continued growth over the coming years.”

CEO Jim Segrave launched flyExclusive in 2015 after selling his Segrave Aviation to Delta Air Lines in 2010.

The company’s stock closed Wednesday at $13.10, down $3.91, or nearly 23%. When it began trading in December 2023, it opened at $11.98.

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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