Active sleeve

Meet the fleet behind
the private jet sleeve

Five Challenger jets form the aircraft portfolio inside Glidepath's active sleeve. Craft operates the fleet. Here's how the structure works and what it means for investors.

A Bombardier Challenger of the Craft fleet on the ramp

Israel Slodowitz

Founder & CEO at Craft

$263M in revenue

Fleet financials

The fleet in numbers#

Revenue, operating profit, and costs from Craft's management accounts. Aircraft results exclude shared company overhead. Figures for 2026 cover January through July; annualized estimates and model assumptions are labeled separately.

Management accountsAccrual basisUnaudited2026 is January through JulyUpdated August 2026

$27.7M

revenue, January through July 2026

$968K

company net profit, January through July 2026

12.1%

fleet operating margin, 2026, aircraft level

$263M

total revenue, 2020 through July 2026

$1.1M

cumulative company net income, 2020 through July 2026

16.4%

Challenger operating margin, all periods combined

Company financials

Revenue and financial history#

Company-wide revenue, costs, and earnings from 2020 through July 2026, including the aircraft operated in each period. These totals include shared overhead and non-operating items; Challenger-only results follow below.

YearRevenueDirect costsGross profitMarginOverheadOtherNet income
2020$2,714,423$2,243,764$470,65917.3%$633,332$8,311−$154,361
2021$20,614,526$13,874,368$6,740,15732.7%$1,873,578$3,016,527$7,883,107
2022$71,390,663$58,825,749$12,564,91317.6%$7,013,533−$540,202$5,011,178
2023$71,516,514$70,398,708$1,117,8061.6%$10,108,838−$1,435,327−$10,426,359
2024$36,752,296$35,650,834$1,101,4633.0%$4,397,279$378,394−$2,917,422
2025$32,355,610$29,084,558$3,271,05210.1%$3,804,283$1,224,409$691,178
2026Jan to Jul$27,710,281$24,398,389$3,311,89212.0%$2,515,483$171,516$967,925
Total$263,054,313$234,476,370$28,577,94210.9%$30,346,326$2,823,628$1,055,246

2026 covers January through July. Direct costs are the cost of hours actually flown. Overhead is everything below the gross line. Other is interest, one-offs, and non-operating items; the 2021 figure includes a one-time gain.

By aircraft

Challenger fleet results#

Annual revenue and operating profit for the Challenger fleet, before shared company overhead and non-operating items. The table below breaks out the current fleet by aircraft.

YearFleet revenueOperating profitMargin
2020$2,606,148$396,539+15.2%
2021$13,594,525$5,347,248+39.3%
2022$24,919,241$7,579,567+30.4%
2023$17,445,411$435,164+2.5%
2024$21,850,872$1,899,889+8.7%
2025$30,048,333$3,625,283+12.1%
2026Jan to Jul$27,010,766$3,278,744+12.1%
Seven years$137,475,296$22,562,434+16.4%
Exited: N165JF, N390AB$12,806,830−$1,847,708-14.4%

Results by aircraft · January–July 2026

TailRevenueOperating profitMarginAdj. EBITDA / monthNote
N150MB$5,830,935$1,067,791+18.3%$236K7 months booked
N251FT$4,882,017$444,250+9.1%$130Kon rental engines
N395PD$5,613,574$575,760+10.3%$255K7 months booked
N7PG$5,741,979$582,706+10.1%$302K6 months booked
N971MC$4,942,261$608,237+12.3%$194K7 months booked

Operating costs

The cost of delivering each flight#

Direct costs cover aircraft operations, crews, trip fees, and flights provided by other operators. Shared overhead supports the company. Both breakdowns cover January through July 2026.

Direct costs, $24,398,389

Aircraft operating costs$18,445,455 (75.6%)

Fuel, maintenance and engine programs: the cost of hours actually flown.

Crew$3,569,279 (14.6%)

Salaries, benefits, training, and getting crews to the aircraft.

Trip fees$1,730,698 (7.1%)

Trip-related fees paid to third parties.

Supplemental lift$652,956 (2.7%)

Aircraft provided by other operators to cover customer trips.

Overhead, $2,515,483

People$1,661,502 (66.1%)

Compensation for non-flight staff.

General & administrative$853,981 (33.9%)

Software, insurance, rent, professional fees.

Aircraft costs per dollar of revenue

Fuel21.6¢
Engine + airframe programs17.9¢
Ownership economics15.7¢
Crew13.2¢
Maintenance10.4¢
Trip costs6.4¢
Insurance & other2.7¢
Aircraft gross profit12.1¢

Unit economics

The economics of a Challenger#

The monthly average and charter example use the fleet's 2026 operating margin. The hourly example uses the hypothetical assumptions for a $15M Challenger listed below.

Monthly average per aircraft · 2026

$771,736

revenue billed

$93,678

operating profit before shared overhead, 12.1%

Illustrative charter flight

$40,000

the customer pays

$4,850

operating profit at the 2026 fleet margin

Illustrative revenue per flight hour

$8,000

revenue per hour

$3,500

after $4,300 direct cost and $200 to Craft

Aircraft model assumptions

Aircraft price$15.0M
Fixed costs per year$1.2M
Interest$675K at 4.5%
Depreciation$1.1M at 7%
Historical hours1,200 to 1,400 a year
Cash breakeven536 hours
Economic breakeven836 hours
Base-case economic profit$925K

The model deducts depreciation before calculating the profit available to split. This accounts for the aircraft's loss in value over time.

Timeline

How the fleet evolved#

  1. September 2020

    Commercial operations begin

    Craft completed approvals and crew training, then operated its first paid flight in September.

  2. 2021

    Flight operations expand

    Craft added crews and flight hours as customer demand grew.

  3. 2022

    A broader aircraft mix

    The fleet expanded to include two Gulfstream G-IVs alongside the Challengers.

  4. 2023

    Performance reviewed by aircraft

    Reporting by tail number allowed Craft to compare each aircraft's operating costs and contribution to the business.

  5. 2024

    A shift toward Challengers

    Craft sold the Gulfstreams and narrowed its aircraft mix.

  6. 2025

    A more focused operation

    The Challenger strategy brought crew training, parts inventory, and maintenance around one aircraft family.

  7. 2026, through July

    Five Challengers in service

    The current fleet consists of three Challenger 300s and two Challenger 350s. The operating figures on this page cover the first seven months of the year.

How aircraft fit into the Glidepath Exchange Fund#

Reserve a spot

The fund

Diversify a concentrated stock position

You contribute a concentrated stock position to the fund in kind. Nothing is sold, so under Section 721 no capital gains tax is due. In return you hold units of a pool spread across about 172 holdings, and after seven years you can redeem in kind with the deferral intact. The fund never charges a management fee.

How an exchange fund works

  1. 1Contributeyour appreciated stock, in kind
  2. 2Nothing is soldso no tax is due, under Section 721
  3. 3Receive unitsof a pool spread across 172 holdings
  4. 4Seven years onredeem in kind, the deferral intact

The structure

Aircraft anchor the fund's qualifying sleeve

For the exchange to be tax free, the rules require at least 20 percent of the fund to be held in qualifying assets rather than stocks. Most funds fill that fifth with real estate through REITs, which adds layers of fees between you and the asset. Glidepath fills it with aircraft, held directly by an entity inside the fund and leased to one operator: Craft.

Aircraft ownership and operations

  1. Glidepath Exchange Fundyour interest
  2. 20% qualifying sleevethe part the fleet backs
  3. Aircraft holding entityowns the five Challengers
  4. Craft Charterleases and flies them

The operator

Craft manages the fleet and the flying

The sleeve buys Challenger jets and Craft flies them for customers under its own Part 135 certificate, paid an hourly floor. Based on the 2026 operating pace, each jet annualizes to about $7.7M of revenue and $2.65M of adjusted EBITDA before shared company overhead. These are annualized estimates. After every operating cost, interest, and depreciation, a tenth of the economic profit is credited straight into investors' net asset value. If the fleet loses money, the loss reaches NAV and is repaired in full from future profit before any split resumes.

Per aircraft · annualized 2026

$7.7M

annualized revenue

$2.65M

annualized adjusted EBITDA

12.1¢ of each revenue dollar remains as aircraft gross profit

Strategy

Why Craft focuses on Challengers

Paid private flying is up 36 percent on 2019 while manufacturers deliver 7 percent fewer jets, and NetJets alone holds options on roughly ~2,250 more. The Challenger 300 family is the third most popular typein the largest fractional fleets. Focusing on one aircraft family simplifies crew training, parts inventory, and maintenance. Craft's operating records show how that fleet has performed.

Aviation demand and aircraft supply

+36%

Paid flights

+80%

Super midsize

−7%

Jets delivered

Track record

Fleet performance and investor economics

The Challenger fleet has been profitable before shared company overhead in every reported year since 2020, with a combined 16.4 percent operating margin through July 2026. That is a fleet operating result, not company net income or an investor return. In the illustrative model, at $8,000 an hour and 1,100 hours a year, investors' tenth of the economic profit would add about 0.3 percent a year to NAV; at $17,000 an hour it would add about 3.1percent. Explore the aircraft results and assumptions in Craft's open books.

Challenger operating margins

15.2%202039.3%202130.4%20222.5%20238.7%202412.1%202512.1%2026*

Before shared company overhead. 16.4% across all reported periods. *2026 is January through July.

Reserve a spot

One reservation covers the whole fund, every sleeve asset included. See all sleeve assets

Explore the operating details. Read Craft's open books: fleet results, fuel costs, and flight activity.

Model your investment#

Adjust your contribution, flight hours, and hourly revenue to see how the assumptions affect your net asset value, including scenarios where the fleet loses money.

Base assumptions: $8,000 per hour and 1,100 hours per year. Adjust hourly revenue up to $17,000.

Modeled difference in portfolio value after seven years

$820,158

For a $5.0M contribution, assuming 10 percent annual market growth in each scenario. The comparison fund charges 1 percent upfront and 1 percent annually.

Management fee savings

$694,792

The modeled effect of avoiding the comparison fund's upfront and annual fees, including growth on those savings.

Active sleeve contribution

+$125,366

The modeled effect of fleet profits and losses on net asset value, including subsequent growth. Investors receive 10 percent of economic profit after any prior losses are recovered.

Calculation breakdown

  1. Contribution per flight hour$8,000 less $4,300 costs and $200 to Craft$3,500
  2. The jet's economic profit1,100 hours × spread, less fixed costs, interest, depreciation$925K
  3. Investors' tenth of it10% × $925K, shared across the $35.0M standing behind that jet$92,500
  4. Your share of that jet$5.0M of the $35.0M of contributions one jet carries14.3%
  5. Credited to your NAV14.3% × $92,500+$13,214 (+0.26%)

Your $5.0M, seven years, 10% market

Glidepath $9.9MMarket alone $9.7MA 1% fee fund $9.0M

Explore lower-utilization scenarios

Yr 1

pays

Yr 2

pays

Yr 3

pays

Yr 4

pays

Yr 5

pays

Yr 6

pays

Yr 7

pays

In this model, fleet losses reduce net asset value in the year they occur. Future profits first recover those losses in full before the profit split resumes.

Fuel

How Craft manages fuel costs#

Fuel accounts for roughly a fifth of customer revenue. Craft bills fuel surcharges to customers to help recover changes in fuel costs. The figures below compare fuel prices with the Challenger fleet's gross margin.

Challenger fleet onlyEIA Gulf Coast spot, annual averageManagement accounts, unaudited2026 is January through JulyUpdated September 2026

+51%

jet fuel benchmark, 2025 to July 2026

1 in 5

dollars a customer pays goes to fuel

12.1% to 12.1%

what Craft kept of every dollar, 2025 to 2026

Historical comparison

Fuel prices and fleet margins#

Annual fuel prices and Challenger gross margins from 2021 through July 2026. Each row uses its own scale.

Jet fuel$ per gallonWhat Craft keptof every dollar$1.85202135.3%$3.37202226.7%$2.7020238.9%$2.3420248.7%$2.12202512.1%$3.192026Jan to Jul12.1%

Fuel price is the annual average, dollars per gallon; the peak year and this year in red. What Craft kept is gross margin on total income, Challenger aircraft only.

Fuel prices alone do not explain fleet margins. Charter rates, aircraft utilization, and other operating costs also affect results. The 2026 comparison covers January through July.

Fuel surcharges

How fuel costs reach the customer#

Craft uses a fuel surcharge to reflect changes in fuel costs on customer invoices. From January through July 2026, these surcharges totaled $666,000. The fleet uses approximately 295 gallonsper flight hour, so the price per gallon is a significant component of each trip's cost.

Fuel surcharges billed, Jan to Jul 2026

$666,300

included on customer invoices

One customer dollar

Flying

How often the fleet flies#

The 5 current Challengers logged 3,234 flight hours from January through July 2026. The records below show annual utilization, monthly activity, and routes, drawn from 13,784 flights across all aircraft operated since September 2020.

JetInsight flight logEvery leg, every tail2020 is September through December2026 is January through JulyPulled September 1 2026

3,234

flight hours, January through July 2026, Challengers

1,142

annualized hours per Challenger, 2026 pace

77%

billable: occupied hours over flight hours, 2026

3,315

revenue passengers carried, 2026 to date

13,784

legs logged since 2020, every aircraft

31,170

flight hours since 2020, every aircraft

Hours per aircraft, by year

Flight hours compared with the model#

Annualized hours per Challenger compared with the model assumptions. The breakeven line includes direct costs, fixed costs, interest, and depreciation.

1,4652020*1,29420211,303202292120231,05820241,22020251,1422026*01,4001,2001,100836

1,200 to 1,400 hours, what the fleet has historically flownthe model assumes 1,100 hourseconomic breakeven, 836 hours

Annualized flight hours per Challenger. *2020 annualizes September through December of one aircraft; *2026 is January through July.

Annualized utilization reached 1,303 hours per Challenger in 2022and 1,220 in 2025. The current pace is 1,142 hours. Utilization met or exceeded the model's 1,100-hour assumption in five of the seven reported periods. The partial periods in 2020 and 2026 are annualized for comparison.

Lowest annualized utilization

921

Hours per Challenger in 2023, based on 44 aircraft-months. This is 85hours above the model's 836-hour breakeven assumption.

Annual flight records

Challenger flight activity by year#

Challenger 300 and 350 aircraft only, including the since-sold airframes. Aircraft-months are calendar months in which a tail logged at least one leg; annualized is hours per aircraft-month times twelve.

YearLegsFlight hoursOccupied hoursBillableRevenue paxGal / hourAircraft-monthsHours / monthAnnualized
2020Sep to Dec242488.2337.169%508249.34122.01,465
20211,1872,587.71,911.974%2,565296.524107.81,294
20221,9444,343.73,084.571%4,059291.740108.61,303
20231,4603,376.72,506.774%3,417298.94476.7921
20241,5043,173.12,431.077%3,483297.53688.11,058
20251,9324,167.73,227.577%4,250290.741101.71,220
2026Jan to Jul1,5613,234.42,499.977%3,315296.73495.11,142
Challengers, all years9,83021,371.515,998.675%21,597293.822395.81,150

Occupied hours are hours flown with a revenue passenger aboard under Part 135; billable is occupied over flight hours, so the balance is positioning and owner flying. Gallons per hour is the fleet average from logged fuel. The whole certificate, every aircraft type, comes to 31,170 hours, 74% billable, 33,779 revenue passengers, 20% of legs international.

Detailed records

Explore the flight records

View flight activity by aircraft, month, or destination.

Activity by aircraftannual flight records, including aircraft no longer in the fleet

Hours per month flown counts only the months a tail was in service, so a jet that joined in August is measured on its own months, not the calendar. Billable is occupied over flight hours.

TailTypeLegsFlight hoursMonths flownHours / monthBillable
2020Sep to Dec1 aircraft, 1,465 annualized per aircraft242488.24122.069%
N971MCChallenger 300 (2007)242488.24122.069%
20213 aircraft, 1,294 annualized per aircraft1,1872,587.724107.874%
N971MCChallenger 300 (2007)7061,509.012125.879%
N3975AChallenger 300 (2008)369830.5992.364%
N150MBChallenger 300 (2007)112248.2382.777%
20224 aircraft, 1,303 annualized per aircraft1,9444,343.740108.671%
N3975AChallenger 300 (2008)6581,492.612124.471%
N150MBChallenger 300 (2007)6111,343.912112.074%
N971MCChallenger 300 (2007)5721,264.112105.368%
N251FTChallenger 300 (2011)103243.1460.872%
20234 aircraft, 921 annualized per aircraft1,4603,376.74476.774%
N3975AChallenger 300 (2008)4411,008.11284.075%
N971MCChallenger 300 (2007)371884.51088.571%
N150MBChallenger 300 (2007)343770.11170.074%
N251FTChallenger 300 (2011)305714.01164.977%
20243 aircraft, 1,058 annualized per aircraft1,5043,173.13688.177%
N251FTChallenger 300 (2011)5521,134.81294.678%
N971MCChallenger 300 (2007)4991,062.61288.574%
N150MBChallenger 300 (2007)453975.71281.378%
20254 aircraft, 1,220 annualized per aircraft1,9324,167.741101.777%
N251FTChallenger 300 (2011)6071,328.312110.777%
N971MCChallenger 300 (2007)5591,216.712101.476%
N150MBChallenger 300 (2007)5561,151.21295.980%
N395PDChallenger 350210471.5594.375%
2026Jan to Jul5 aircraft, 1,142 annualized per aircraft1,5613,234.43495.177%
N150MBChallenger 300 (2007)350711.47101.676%
N7PGChallenger 350322660.8794.475%
N395PDChallenger 350317645.8792.377%
N251FTChallenger 300 (2011)296644.6792.178%
N971MCChallenger 300 (2007)276571.8695.380%

Aircraft no longer in the fleet

9,533 hours flown by aircraft no longer on the certificate, 31% of the total. Seven Gulfstream tails came and went between 2021 and 2024, and a Beechcraft Premier flew light duty in 2024 and 2025. The books for those years are by aircraft, above.

20212 Gulfstreams, 34 h
20227 Gulfstreams, 3,125 h
20237 Gulfstreams, 4,273 h
20244 Gulfstreams, 1,556 h; Premier, 216 h
2025Premier, 328 h
Monthly flight hourshours by aircraft; darker cells indicate more flying

Monthly records for the current fleet in 2025 and 2026. Empty cells indicate months when an aircraft was not yet operating under the certificate or no record was available.

The pattern is the charter calendar: the winter and spring peaks, a softer late summer, and the dips where a tail sat for scheduled maintenance, a 20-hour February for one jet, a 13-hour March for another. Every hour in these cells is also an hour on the engine clock: the fleet's engines are inspected every 4,800 hours, and at the model's 1,100-hour pace that clock runs down in about four years. The engines question explains the maintenance process.

Routes and destinationsNew York, Miami, Los Angeles, and the islands

A 2021 snapshot, the one year the log was captured airport by airport. Touches count each arrival or departure, so a round trip counts twice.

Top airports, 2021

Top routes, 2021

Teterboro to Opa-locka is the spine: New York to Miami, both directions, then Van Nuys to either coast.

Countries touched, 2021

142 touches outside the United States against 2,194 inside it. Mexico and the Caribbean are the international business; it is a domestic fleet.

2021 is the only year the log was captured at this grain. Later years are aggregated by tail and month, not by airport, so the map is a snapshot of the second year rather than the current one.

Meet the team at Craft

Izzy Slodowitz, founder of Craft, on camera

What is an exchange fund, and why aircraft?

Izzy

Founder, Craft

Watch the interviews on flycraft.com

Izzy Slodowitz on cameraIzzy Slodowitz on cameraA member of the Craft team on camera

What founders say about Craft

Over 500 families and founders use Craft to stay ahead of their tax exposure.

"The combination of immediate diversification and tax deferral makes Glidepath uniquely flexible and best for me overall."

Jordan Lowe

Founder, Deft (Summit Company)

"Diversifying a concentrated position without triggering taxes immediately changed how we manage risk across our portfolio."

Seth Berman

General Partner, Susa Ventures

"I love zero fees, the long term value is under appreciated, it's why I buy VOO instead of SPY."

Sheel Tyle

Founder & Co-CEO, Collective Global

Registration, custody, and aviation standards

SEC Registered

Custodied with UBS

ARGUS Platinum Rated

FAA Part 135 Certified

WealthManagement.com

"This is the right product at the right time. Craft is opening a structure historically reserved for the ultra-wealthy to the people building today's most valuable companies."

Seth Berman, Susa Ventures, May 2026

Common questions#

The ownership structure, operating economics, and risks investors should understand.

What does the fund actually own?

A holding entity inside the fund's 20 percent qualifying sleeve owns five Bombardier Challengers, three 300s and two 350s, and leases them to Craft, which holds the Part 135 certificate and flies them. Your interest is in the fund; the aircraft sit above the operator; the other 80 percent of the fund is listed stock and is not exposed to any of this.

What do Craft's reported results show?

From 2020 through July 2026, Craft reported $263M in revenue and $1.1Min cumulative company net income. That total includes both profitable and loss-making years. Company net income includes shared overhead and non-operating items; it is not the fund's investment return.

Separately, the 2026 aircraft operating pace implies about $7.7M in annual revenue and $2.65M in annual adjusted EBITDA per jet, before shared overhead. These annualized estimates are not full-year results. Adjusted EBITDA adds back interest, taxes, depreciation, amortization, aircraft rent, and owner revenue shares.

Open books

What about the engines?

Every engine goes to the shop at 4,800 flight hours for a major inspection that runs past $300,000. Craft has recorded three of these events and plans for them in the open: N251FTis flying on rental engines while its own are inspected, and N7PG's engines are at the shop in Augusta, Georgia as of August 2026. These scheduled maintenance events are included in the operating cost assumptions.

What if Craft goes out of business?

The aircraft are held above the operator, so they can be re-leased to another Part 135 operator, sold into a market with more than 850+ of the type in service, or wound down. Craft leases and operates the aircraft. A transition to another operator can interrupt revenue and create additional costs.

Why aircraft instead of real estate?

Every exchange fund needs a 20 percent qualifying sleeve. Most fill it with real estate through REITs, which add layers between you and the asset. Craft's aircraft are held directly, flown by one operator, with the books on this page. Paid private flying is up 36 percent on 2019, and the largest fleet in the world holds options on roughly ~2,250 more aircraft.

Can I choose which asset backs my share?

No. A reservation is for the fund as a whole, and every investor holds the same mix. Today the active sleeve is aircraft. GPU datacenters and robotaxi fleets are under evaluation on the same structure: assets owned directly, leased to one operator, a tenth of the economic profit credited to NAV, and losses repaired in full before any split resumes. Nothing is added to the sleeve until it is described in the private placement memorandum.

What risks should investors consider?

If the fleet's economics go negative, the loss lands in your NAV and is repaired at 100 percent from future profits before any split resumes. If aircraft values fall, the sleeve is worth less. If an operator transition takes time, that time costs money. The figures on this page are targets, not guarantees; the private placement memorandum controls.

Make the Craft fleet part of your portfolio

Reserve your place in the Glidepath Exchange Fund. One reservation covers the whole fund.

Reserve a spot

Company figures are Craft Charter, LLC internal management accounts, prepared on an accrual basis, unaudited. 2026 covers January through July. Per-jet figures are aircraft-level and exclude shared company overhead. Single-plane model figures are hypothetical assumptions, not a projection. The fleet backs the qualifying sleeve, 20 percent of the Glidepath Exchange Fund; investors' 10 percent of economic profit credits to net asset value, and losses reduce net asset value and are repaired at 100 percent from future profits before any split resumes.

Source for the books: Craft Charter, LLC profit and loss by class, one sheet per year, 2020 through July 2026. Every figure is the total column of a summary row, rounded to whole dollars; category splits cross-foot to their totals. Aircraft-level figures are net operating income summed over named tail numbers before shared company overhead. Adjusted EBITDA is earnings before interest, taxes, depreciation, and amortization, with aircraft rent and owner revenue shares added back, before overhead. The plane model's hours and breakeven are hypothetical assumptions, not a projection.

GPU datacenter and robotaxi allocations are under evaluation and are not part of the fund today. Descriptions of those asset classes are illustrative of the intended structure, carry no figures, and do not commit the fund to any purchase. Any addition would be described in the private placement memorandum before it is made.

Market figures: WingX Global Market Tracker, 2025 full year; Argus TRAQPak 2025 annual review; GAMA shipment data through May 2025; public order and option announcements through May 2024; published fleet counts and industry fleet compilations, 2022 through January 2026; VREF published values; FAA registry. Third-party figures as reported at the dates noted, not verified by the fund. Options reserve future production capacity; not all convert to firm orders.

Craft Charter, LLC management accounts, accrual basis, unaudited, Challenger aircraft only. Fuel price is the U.S. Gulf Coast jet fuel spot price (EIA), annual average; 2026 is January through July. What Craft kept is gross margin on total income. Updated September 2026.

Flight figures: JetInsight logged flights, Craft Charter LLC, September 1 2020 through July 31 2026, all aircraft under the certificate including since-sold airframes, pulled September 1 2026. Challenger cohort is Bombardier Challenger 300 and 350 aircraft. Aircraft-months are calendar months with at least one logged leg; annualized hours are flight hours per aircraft-month times twelve. 2020 covers September to December and annualizes four months of one aircraft; 2026 covers January to July. International legs for 2021 are endpoint touches, an upper bound. JetInsight is the operational record and does not reconcile to the accounting period automatically.

Testimonials reflect the views of the individuals at the time given and are not representative of any other client's experience. No cash compensation was paid. Certain individuals identified as investors hold an economic interest in the fund and therefore have a financial incentive to promote it. Past performance is not indicative of future results.

Targets are targets, not guarantees. You can lose principal. Where anything on this page differs from the private placement memorandum, the memorandum controls. Nothing on this page is an offer to sell, or a request to buy, any investment.