Upon resigning his commission Fleet accepted a position with
Gallaudet Aircraft Company. Fleet arranged the merger between Gallaudet Aircraft Company and
Dayton-Wright Company to create his own company, Consolidated Aircraft Company, in 1923. He hired
Isaac Machlin Laddon, who had been in charge of design of heavy aircraft at McCook Field. One of his first goals was to secure the contract to design a twin-engine night bomber for the Army. Teaming with Sikorsky, they failed to win the competition with their
S-37 design. Consolidated then went on to a long line of successful designs and lucrative contracts for
seaplanes for the Navy. Starting with their
XPY-1 of 1928, the company's string of successes culminated in one of the most numerous and successful seaplanes, the
Consolidated PBY Catalina. Exploiting Fleet's experience in Army flight training, Consolidated produced a popular military training aircraft, the
PT-11 (Consolidated Model 21) primary/advanced
trainer. Leading Consolidated, Fleet founded or acquired a number of subsidiaries, including
Fleet Aircraft to market civilian designs, Tonawanda Products Corporation to supply components, and Hall-Aluminum Aircraft Corporation. Among the companies acquired by Fleet during time was the
Thomas-Morse Aircraft which was failing yet had outstanding contracts to deliver. Fleet selected San Diego, California, to relocate Consolidated from Buffalo, New York, where winter weather restricted seaplane operations. The move occurred in 1935. In November, 1941 Fleet elected to sell a majority of his shares in Consolidated to
Vultee Aircraft. The resulting company, Consolidated Vultee Aircraft Corporation, became known as
Convair. He continued on in the role of adviser and consultant for five more years. He also became a private consultant for
Franklin D. Roosevelt. Consolidated went on to become a key supplier of
heavy bombers with the
widely produced B-24 Liberator playing a key role in the
Allied strategic bombing campaigns, and the
Convair B-36—the world's largest piston-engined bomber—filling a crucial gap in the
Cold War years until
jet-powered bombers became widely available. In August 1946, Fleet and his sister, Lillian, bought a parcel of land in Montesano and donated it to the city for use as a park named in honor of their parents. The city subsequently renamed Second Street to Fleet Street in their honor. ==Retirement and philanthropy==