PROOF Acquisition Corp I - PACIU STOCK NEWS

Volato Group, Inc. disclosed Key Performance Indicators (KPIs) showing improvements in customer mix and growth in yield per flight hour. The Company's strategic shift in demand mix is expected to achieve lower empty leg rates and improved margins. The addition of new planes to the fleet in 2024 is projected to contribute to revenue and market share growth, supporting the path to profitability.

Volato Inc. (NYSE American: SOAR) announced a strategic agreement with Banyan Air Service to expand HondaJet maintenance at Volato’s primary operational base, marking Banyan's first venture outside of Fort Lauderdale. The move creates a new authorized HondaJet maintenance facility in St. Augustine, Florida, and includes the sublease of Volato’s hangar to provide full-scale maintenance services for Volato’s growing fleet of HondaJets. The integration of services commenced on January 2nd, with the initial sublease term set for three years. Additionally, Banyan has absorbed Volato’s existing maintenance staff and plans to hire up to eight additional maintenance roles in 2024. This initiative streamlines Volato’s operations, supports fleet expansion, and delivers operational efficiency and cost savings compared to previous in-house maintenance.

Volato Group, a leading private aviation company in the United States, announced steady growth in key metrics, including Total Flight Hours, Light Jet Market Share, and Net Promoter Score. The company achieved a Net Promoter Score of 86 or better throughout FY 2023 and increased its light jet market share to nearly 3%. This reflects Volato's commitment to customer satisfaction and operational excellence, as well as its expanded market penetration.

Volato Inc. (NYSE American: SOAR) has expanded its fleet by 50% to a total of 24 HondaJet aircraft as of December 2023. The expansion includes the addition of three new aircraft delivered in December, marking a total of eight aircraft added to Volato’s HondaJet fleet in 2023. The company's growth strategy includes acquiring aircraft directly from Honda and contracting with owners to manage their planes, ensuring greater availability and flexibility for customers. Volato expects to receive 10 additional HondaJet aircraft over the course of 2024 and has also signed a letter of intent with HondaJet for its new Echelon aircraft.

Volato Inc. (NYSE American: SOAR) announced the appointment of Josh Newsteder, VP of Operations, to the Board of Directors of the HondaJet Owners and Pilots Association (HJOPA). This aligns with Volato's mission of enhancing safety and transparency in the private aviation community.

Volato (NYSE American: SOAR) introduces the new Volato Partner Benefits program, offering exclusive access and offers to Volato Fractional Owners and Volato Insider Members. The program provides a curated and complimentary range of added-value benefits tailored to customers' needs, including lodging, travel amenities, entertainment, ground transportation, and more.

Volato (SOAR) partners with Fly Alliance to provide expanded aircraft options for Gulfstream G280, HondaJet, and Volato Insider Program Max customers. The agreement guarantees access to large cabin aircraft for up to ten passengers, enhancing Volato's offerings. Customers can start enjoying the benefits from December 4, with guaranteed availability in the U.S., Caribbean, Canada, and Mexico.

Volato, Inc. (SOAR) and PROOF Acquisition Corp I (PACI) have completed a business combination, with Volato operating under the Volato brand. The common stock and warrants will trade on NYSE American under the new ticker symbols 'SOAR' and 'SOAR.WS'. The closing of the Business Combination was approved at a Special Meeting of PACI shareholders. $12 million of private investments were closed, totaling over $60 million in capital raised. Volato aims to accelerate fleet growth and strategy, enhance transparency and institutional support, and deliver efficient solutions to travelers while creating value for shareholders.

Proof Acquisition Corp I (PACI) stockholders approve business combination with Volato, Inc. with 97% of votes cast in favor. Anticipated closing on or before December 1, 2023, leading to the formation of Volato Group, Inc. (SOAR) on NYSE American.