Volato Updates Fractional Program with Additional Differentiated Benefits
- Only Industry Fractional Program with Revenue Share Returns $8.5 Million to Owners Since Inception
- Introduces a New Guaranteed Minimum Revenue Share to All New HondaJet and G280 Fractional Buyers
Volato Group, Inc. (NYSE:SOAR) ("Volato"), a leading private aviation company and the largest HondaJet operator in the United States, today announced a series of enhancements to its fractional program, along with the news that the company has returned $8.5 million in revenue share to fractional owners since its inception in August 2021. These changes are aimed at delivering unparalleled value, flexibility, and a financially efficient program to fractional owners.
"We are thrilled to introduce these updates to our fractional program, which provide even greater value to our customers and make our fractional program more competitive," said Matt Liotta, CEO of Volato. "Our goal is to consistently exceed the expectations of our fractional owners by providing them with a best-in-class private aviation experience, maximum service value, and flexibility. We are especially proud of the $8.5 million we've returned in revenue share to our fractional owners."
Key Fractional Owner Program Updates for New Buyers:
- Minimum Revenue Share Guarantee: Volato will guarantee a minimum revenue share of 650 revenue hours a year for new HondaJet and G280 fractional aircraft, even if the aircraft flies fewer actual revenue hours in that year. This provides a more predictable set of total program costs and revenues for Volato's fractional owners.
- Guaranteed Light Jet Availability: HondaJet program owners will now enjoy guaranteed access to a range of light jets with greater passenger and/or range capability than the HondaJet. This includes access to popular models such as the Phenom 300, Citation CJ3, and others, at a competitive rate that is 1.5 times the customer's applicable HondaJet rate plus fuel.
- Elimination of Repositioning Charges: Volato has removed repositioning charges for all flights within the continental United States, simplifying the program and removing unexpected costs.
- Reduction in Peak Days: Volato is substantially reducing the number of peak days by 8 days, providing owners with greater flexibility and access to the fleet during high-demand periods.
"It's not often that fractional providers prioritize innovation or implement changes that decidedly favor the client, but at Volato we're different. We know what it's like to be owners sitting in the back of the plane," said Luis Garcia, Executive Vice President of Sales at Volato. "By offering a minimum revenue guarantee, eliminating repositioning costs in the U.S., and providing competitive upgrade options to help provide the right plane for every mission, we empower individuals, families, and businesses to optimize their ownership costs and budgets seamlessly."
To learn more about Volato's fractional owner program, visit: FlyVolato.com
About Volato:
Volato (NYSE:SOAR) is a leader in private aviation, redefining air travel through modern, efficient, and customer-designed solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit and charter programs, all powered by advanced, proprietary mission control technology. Volato's fractional programs uniquely offer flexible hours and a revenue share for owners across the world's largest fleet of HondaJets, which are optimized for missions of up to four passengers. For more information visit www.flyvolato.com.
All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (GC Aviation, Inc. d/b/a Volato) or by an approved vendor air carrier.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240723098358/en/