Volato Announces Strategic Agreement with flyExclusive and Outlines Continued Growth Plans
Volato, the largest HondaJet operator in the US, has announced a strategic agreement with flyExclusive (NYSEAMERICAN: FLYX) to transition its fleet operations management. This move aims to bring substantial cost savings and allow Volato to focus on high-growth areas like aircraft sales and proprietary software. Under the Aircraft Management Services Agreement (AMS), flyExclusive will manage all aspects of Volato's fleet operations, including revenue and expenses.
Volato will continue to take delivery of new HondaJets and Gulfstream G280s, which will become part of flyExclusive's managed fleet. The company will benefit from aircraft sales margins without operational costs and generate revenue from its proprietary software, including the Vaunt empty leg program. FlyExclusive will add its empty-leg flights to Vaunt, potentially increasing flight inventory by up to 500%. The companies are also discussing a potential merger to further integrate their strengths in the private aviation sector.
Volato, il più grande operatore di HondaJet negli Stati Uniti, ha annunciato un accordo strategico con flyExclusive (NYSEAMERICAN: FLYX) per gestire le operazioni della sua flotta. Questo passaggio mira a portare risparmi significativi e consentire a Volato di concentrarsi su aree ad alta crescita come vendite di aeromobili e software proprietario. In virtù dell'Accordo di Servizi di Gestione degli Aeromobili (AMS), flyExclusive gestirà tutti gli aspetti delle operazioni della flotta di Volato, comprese le entrate e le spese.
Volato continuerà a ricevere nuovi HondaJet e Gulfstream G280, che diventeranno parte della flotta gestita da flyExclusive. L'azienda beneficerà dei margini di vendita degli aeromobili senza costi operativi e genererà entrate dal suo software proprietario, incluso il programma Vaunt per voli vuoti. FlyExclusive aggiungerà i suoi voli vuoti a Vaunt, aumentando potenzialmente l'inventario dei voli fino al 500%. Le aziende stanno anche discutendo un possibile merger per integrare ulteriormente le loro forze nel settore dell'aviazione privata.
Volato, el mayor operador de HondaJet en Estados Unidos, ha anunciado un acuerdo estratégico con flyExclusive (NYSEAMERICAN: FLYX) para gestionar las operaciones de su flota. Este movimiento tiene como objetivo traer ahorros de costos significativos y permitir que Volato se enfoque en áreas de alto crecimiento como ventas de aeronaves y software propietario. En virtud del Acuerdo de Servicios de Gestión de Aeronaves (AMS), flyExclusive gestionará todos los aspectos de las operaciones de la flota de Volato, incluidas los ingresos y los gastos.
Volato continuará recibiendo nuevos HondaJet y Gulfstream G280, que se convertirán en parte de la flota gestionada por flyExclusive. La empresa se beneficiará de márgenes de venta de aeronaves sin costos operacionales y generará ingresos a partir de su software propietario, incluyendo el programa Vaunt para vuelos vacíos. FlyExclusive añadirá sus vuelos vacíos a Vaunt, aumentando potencialmente el inventario de vuelos hasta en un 500%. Las empresas también están discutiendo una posible fusión para integrar aún más sus fortalezas en el sector de la aviación privada.
미국의 최대 혼다 제트 운영업체인 볼라토(Volato)는 플라이익스클루시브(flyExclusive, NYSEAMERICAN: FLYX)와의 전략적 협약을 발표하며 자산 운영 관리로 전환합니다. 이번 조치는 상당한 비용 절감을 가져와 볼라토가 항공기 판매 및 독점 소프트웨어와 같은 고성장 분야에 집중할 수 있도록 하는 것을 목표로 합니다. 항공기 관리 서비스 계약(AMS)에 따라, 플라이익스클루시브는 볼라토의 모든 운영 측면, 포함 수익 및 지출을 관리합니다.
볼라토는 새로운 혼다 제트와 걸프스트림 G280을 지속적으로 인수할 것이며, 이는 플라이익스클루시브가 관리하는 플롯의 일부가 됩니다. 회사는 운영 비용 없이 항공기 판매 마진의 혜택을 받고, 밴트 비어 있는 다리 프로그램을 포함한 독점 소프트웨어를 통해 수익을 창출할 것입니다. 플라이익스클루시브는 Vaunt에 빈 다리 비행기를 추가하여, 비행 재고를 최대 500%까지 증가시킬 수 있습니다. 두 회사는 사적 항공 분야에서의 강점을 더욱 통합하기 위한 잠재적 합병도 논의하고 있습니다.
Volato, le plus grand opérateur de HondaJet aux États-Unis, a annoncé un accord stratégique avec flyExclusive (NYSEAMERICAN: FLYX) pour gérer les opérations de sa flotte. Ce mouvement vise à apporter d'importantes économies de coûts et à permettre à Volato de se concentrer sur des domaines à forte croissance tels que les ventes d'aéronefs et les logiciels propriétaires. En vertu de l'Accord de Services de Gestion d'Aéronefs (AMS), flyExclusive gérera tous les aspects des opérations de la flotte de Volato, y compris les revenus et les dépenses.
Volato continuera de recevoir de nouveaux HondaJets et Gulfstream G280, qui feront partie de la flotte gérée par flyExclusive. L'entreprise bénéficiera de marges de vente d'aéronefs sans coûts opérationnels et générera des revenus grâce à son logiciel propriétaire, y compris le programme Vaunt pour les vols vides. FlyExclusive ajoutera ses vols vides à Vaunt, ce qui pourrait augmenter l'inventaire des vols jusqu'à 500%. Les entreprises discutent également d'une éventuelle fusion pour intégrer davantage leurs forces dans le secteur de l'aviation privée.
Volato, der größte HondaJet-Betreiber in den USA, hat eine strategische Vereinbarung mit flyExclusive (NYSEAMERICAN: FLYX) bekannt gegeben, um das Flottenmanagement zu überarbeiten. Dieser Schritt zielt darauf ab, beträchtliche Kosteneinsparungen zu erzielen und Volato die Möglichkeit zu geben, sich auf Wachstumsbereiche wie Flugzeugverkäufe und proprietäre Software zu konzentrieren. Im Rahmen der Aircraft Management Services Agreement (AMS) wird flyExclusive alle Aspekte des Flottenmanagements von Volato, einschließlich Einnahmen und Ausgaben, übernehmen.
Volato wird weiterhin neue HondaJets und Gulfstream G280s erhalten, die Teil der von flyExclusive verwalteten Flotte werden. Das Unternehmen wird von Gewinnen aus Flugzeugverkäufen ohne Betriebskosten profitieren und Einnahmen aus seiner proprietären Software, einschließlich des Vaunt-Programs für Leerflüge, generieren. FlyExclusive wird seine Leerflüge zu Vaunt hinzufügen, was die Fluginventar um bis zu 500% erhöhen könnte. Die Unternehmen diskutieren auch über eine mögliche Fusion, um ihre Stärken im privaten Luftfahrtsektor weiter zu integrieren.
- Strategic agreement with flyExclusive expected to bring substantial cost savings
- Volato to focus on high-growth areas: aircraft sales and proprietary software
- Continued delivery of new HondaJets and Gulfstream G280s
- Potential for increased revenue from aircraft sales margins without operational costs
- Expansion of Vaunt empty leg program with flyExclusive's fleet, potentially increasing flight inventory by up to 500%
- Discussions about a potential merger with flyExclusive to enhance offerings in private aviation
- Transition of fleet operations management to flyExclusive, potentially reducing direct control over operations
This strategic agreement between Volato and flyExclusive represents a significant shift in Volato's business model, potentially improving its financial position. By transferring fleet operations to flyExclusive, Volato stands to reduce operational costs substantially, which could positively impact its bottom line. The focus on high-margin aircraft sales and proprietary software development, particularly the Vaunt program, suggests a pivot towards more scalable revenue streams.
The potential
This agreement marks a notable shift in the private aviation landscape. Volato, as the largest HondaJet operator, partnering with flyExclusive, a major charter service provider, creates a symbiotic relationship that could reshape industry dynamics. The transition of fleet management to flyExclusive allows for operational efficiencies, potentially leading to better asset utilization and improved service quality.
The continued acquisition of new HondaJets and Gulfstream G280s by Volato, to be managed by flyExclusive, indicates a strategic expansion of the combined fleet. This could enhance market reach and service offerings. The integration of flyExclusive's empty-leg flights into Volato's Vaunt program is particularly intriguing, as it addresses a common industry challenge of optimizing empty-leg utilization. If executed well, this could set a new standard for efficiency in the private aviation sector, benefiting both companies and potentially disrupting current market norms.
Volato's strategic pivot towards software solutions, particularly the Vaunt empty leg program, is a smart move in an increasingly tech-driven aviation market. The potential
The focus on proprietary software development suggests Volato is positioning itself as a tech-enabled aviation company, rather than just an aircraft operator. This shift could lead to higher margins and more scalable growth. However, success will depend on the quality and user adoption of these tech solutions. Investors should watch for metrics related to Vaunt's user growth and engagement, as well as any new software products Volato might introduce. If executed well, this tech-centric strategy could give Volato a significant competitive edge in the evolving private aviation market.
Under the terms of the Aircraft Management Services Agreement (AMS), flyExclusive will take over all aspects of operating Volato's fleet, including both revenue and expenses. This transition will allow Volato to reduce its cost base by transferring the operational responsibilities to flyExclusive, which anticipates that the fleet will be profitable under its management.
“We are excited about the potential of this agreement, which provides significant benefits to both Volato and flyExclusive,” said Matt Liotta, CEO of Volato. “By shifting fleet operations to flyExclusive, we reduce our operational costs while continuing to focus on delivering value through our aircraft sales and expanding our software solutions, such as the Vaunt empty leg program.”
Volato will continue to take delivery of new HondaJets and Gulfstream G280s, and these aircraft will become part of flyExclusive's managed fleet. Volato will benefit from the margins on aircraft sales without the burden of operational costs, while also generating revenue from its proprietary software, including the cash flow-positive Vaunt program, Volato’s successful empty leg consumer app.
FlyExclusive will also add a portion of its empty-leg flights to Vaunt. In second quarter of 2024 Vaunt listed over 600 available flights. FlyExclusive has a fleet of over 80 aircraft, and by adding select flyExclusive aircraft, the inventory of flights in Vaunt may increase by up to
Additionally, Volato and flyExclusive remain in discussions about a potential merger, which could further integrate the strengths of both companies and enhance their collective offerings in the private aviation sector.
Cautionary Note on Forward Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of the control of Volato that could cause actual results to differ materially from the results discussed in the forward-looking statements. The words "anticipate," "believe," continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual events and results to differ materially from those contained in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Annual Report on Form 10-K, filed with the SEC on March 26, 2024 and other documents filed by the Company from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. You are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made, and Volato undertakes no obligation and does not intend to update or revise these forward-looking statements, whether because of new information, future events, or otherwise.
About Volato
Volato (NYSE American: 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.
About Vaunt
Part of Volato Group, Vaunt addresses private aviation’s empty-leg flight challenge through proprietary software and a mobile consumer app, making private flights accessible for spontaneous and frequent travelers. All Vaunt flights are operated by its DOT/FAA-authorized air carrier affiliate or an approved vendor air carrier.
All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (G C 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/20240904879877/en/
Mark Heinen, Chief Financial Officer, mark.heinen@flyvolato.com
Source: Volato Group, Inc.
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