News Release

Volato announces new charter service for its private jets

Atlanta, Georgia based fractional start up Volato, which uniquely decouples private jet ownership from use, has officially launched its charter service for the general public.

Effective December 15, passengers who do not have ownership in a Volato aircraft can now book a flight and pay by the hour for a domestic trip aboard a Volato four-passenger HondaJet Elite S aircraft. A portion of charter fees are then returned to Volato fractional owners, a distinguishing feature of Volato's programme.

“The launch of our charter service completes our innovative business model.” said Nicholas Cooper, chief revenue officer and co-founder of Volato. “We are launching another revenue stream for our owners where they can earn up to $1,250 on every live flight hour, irrespective of who is flying. It also provides the growing private travel community the ability to experience our exemplary service and our luxury aircraft for their four-or-less passenger missions. We are excited to continue to provide innovative solutions to the private aviation space.”

For those seeking a unique fractional ownership model where they can make money on every live flight hour and now charter, Volato provides all the benefits of owning a private jet without the stress of managing upkeep and logistics. Shares in its five-year programme can be purchased at 1/16, 1/8, 1⁄4 or 1⁄2 sizes through to a full HondaJet Elite S aircraft. Owner pricing for flights is currently $3,200 per hour for live legs, plus fuel at cost. The net effective rate for owners can be as low as $1,950 per hour plus fuel after netting out the owner's revenue share and other owner discounts. Depending on the size of the fractional ownership share relative to hours flown, owners may even fly at zero dollars per flight hour.

Additional incentives for purchasing Volato jet shares may include accelerated depreciation benefits on the jet-share acquisition cost.

The HondaJet Elite S features several upgrades that expand operational capability; customers can fly up to 120 nm (138 mi) further than the previous model or take an additional passenger during their typical mission. Volato is the only fleet operator of the HondaJet to fully upgrade the cabins with wifi, a full galley, executive leather chairs, in-built surround sound system and more.

Volato manages furnishings, maintenance, fees and flight operations: owners simply schedule flights through the Volato app, show up and relax. Onboard Volato fleet amenities include a fresh-brew coffee system, a dual-divided ice drawer, generous storage for catering, and snacks and beverages. The jet's fully enclosed lavatory includes a brightly lit vanity mirror, dual mini skylights, a vessel sink with running water, a leather-appointed seat lid and roomy cabinets for personal-hygiene items.

Volato launched its fractional ownership service in early September and has since sold most of its current inventory of HondaJets, with limited fractional ownership shares available on upcoming first quarter 2022 aircraft deliveries.