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Despite Reuben Fleet's enthusiasm for the new light trainer, the board of Consolidated Aircraft Corporation decided to discontinue the Fleet line in the same year it was started, 1928. Ruben Fleet then formed Fleet Aircraft, Inc. to acquire the rights from Consolidated and produce the airplane. In 1929 Consolidated bought Fleet Aircraft, Inc., which continued to produce the airplanes in Buffalo, New York as a subsidiary of Consolidated.

In 1930, Consolidated moved its Fleet Aircraft division to Canada. There, Fleet Aircraft built some 450 derivatives of the Fleet biplane for the RCAF. Additionally, some 300 such derivatives were built under license in Romania. Fleets were popular civilian trainers in the USA during the 30's.