An aircraft ejector nozzle includes a plug assembly (26) located between upper and lower cowlings (18, 20) and upright sidewalls (22). The plug assembly (26) includes separable upper and lower diverters (28, 30). Each diverter includes multiple subsections pivotably attached end-to-end. In one embodiment, first, second, and third subsections (90, 92, 94) are provided. Stationary ejectors (40, 42) located in the cowlings (18, 20) input ambient airflow (44) into an exhaust stream (32). Preferably the ejectors (40, 42) include mixing components (46). Upper and lower aft flaps (48, 50) further tailor the exhaust path shape. An actuation assembly (52) moves the diverters (28, 30) and aft flaps (48, 50) between their various positions. One actuation assembly embodiment includes a number of rotatable disks (118, 120, 132, 134, 142) for guiding the upper and lower diverters (28, 30) and the aft flaps (48, 50). In a first plug assembly configuration the diverter forward ends (84) are positioned together and the diverter aft ends (86) are positioned together. The first configuration forces exhaust (32) around the diverters (28, 30). In a second plug assembly configuration the diverter forward ends (84) are positioned apart and the diverter aft ends (86) are positioned apart. The second configuration forces exhaust (32) between the diverters (28, 30) while simultaneously covering the ejectors (40, 42). Acoustic linings (100) are provided at various locations within the nozzle and are exposed to the exhaust flow only during noise suppression configurations, thus minimizing liner wear and contamination.