Volato’s Innovation in a $15.27 Billion Private Aviation Market Turns Heads with Vaunt’s New Cabin Plus Membership Plan

Rhea-AI Summary

Volato Group (NYSE American: SOAR) announced that its private aviation platform Vaunt has launched a new premium membership tier, Vaunt Cabin Plus, and rebranded its existing membership as Vaunt Core. The Core membership, priced at $1,995 annually, offers access to light jets for up to four passengers, while Cabin Plus, at $7,495, provides access to midsize and larger jets. Existing Core members as of November 30, 2024, can renew at the original price of $995. Additionally, Vaunt released Version 2.0 of its mobile app with enhanced design and user experience features, focusing on scalability and future innovation.

Positive

• Launch of premium tier Cabin Plus membership expanding service offerings
• Multiple revenue streams through tiered membership pricing ($1,995 and $7,495)
• Loyalty benefit for existing members with grandfathered pricing ($995)
• Release of upgraded app platform indicating technological advancement

Negative

• None.

Insights

Market Research Analyst

This strategic expansion in the private aviation market shows promising potential. The introduction of Vaunt Cabin Plus at $7,495 per annum alongside the existing Core membership at $1,995 creates a tiered revenue model targeting different market segments. The pricing strategy, particularly the grandfathered rate of $995 for existing members, demonstrates smart customer retention tactics while maximizing revenue from new subscribers.

The private aviation market, valued at $15.27 billion, presents significant growth opportunities. Vaunt's platform approach to monetizing empty-leg flights addresses a key efficiency gap in the industry. The app redesign and expanded membership tiers position the company to capture a larger share of this market, particularly targeting the underserved segment between commercial and traditional private aviation.

Volato Group’s Vaunt Unveils New Premium Membership Tier and Launches Version 2.0 of its App

ATLANTA--(BUSINESS WIRE)-- Volato Group, Inc. (NYSE American: SOAR) announced that Vaunt, the leading private aviation platform for accessing affordable private aviation experiences, launched its new premium membership tier, Vaunt Cabin Plus, and the rebranding of its existing membership as Vaunt Core. These significant milestones underscore Vaunt’s commitment to redefining the private aviation experience for its members.

Vaunt Membership Tiers: Vaunt Core and Vaunt Cabin Plus

Vaunt’s membership offerings now include:

• Vaunt Core: Formerly known as the standard Vaunt membership, this tier offers access to light jets for up to four passengers, providing a cost-effective entry into private aviation. Members enjoy unlimited access to Core Flight waitlists, ability to purchase one Core Flight Priority Upgrade per year, and standby access to Cabin Plus Flights
• Vaunt Cabin Plus: Tailored for larger groups or those seeking more spacious aircraft, this new premium tier expands access to midsize and larger jets, accommodating additional passengers and more flight options. Cabin Plus members also receive the ability to purchase one Cabin Plus Priority Upgrade per year in addition to one Core Priority Upgrade per year and access to the same flexible, convenient booking process.

“The launch of Vaunt Cabin Plus represents a new chapter in our mission to democratize private aviation,” said Nicholas Cooper, President of Vaunt. “These membership tiers deliver value to our members and are designed to support the growth of our recently announced Third Party Operator Program while increasing our flight inventory for members.”

Available today, Vaunt Core memberships are $1,995 per annum, and Vaunt Cabin Plus memberships are $7,495 with a special launch offer available within the app. As a benefit to existing members, any existing Vaunt Core memberships as of November 30, 2024 may renew their memberships at the original launch price of $995.

Introducing Vaunt App Version 2.0

Alongside these exciting membership updates, Vaunt is proud to unveil Version 2.0 of its mobile app, featuring a refined, sophisticated design built for scalability and an ambitious growth roadmap. The new design marks a transition from an MVP to a polished, fully realized product, crafted to feel as premium and exclusive as the private flying experience.

The update prioritizes simplicity, with clear, intentional touches that enhance communication and usability. “Our goal was to create an experience distinct from commercial travel,” said Tim Graves, Head of Marketing at Volato Group. “This redesign nurtures the allure of flying private, with an elevated aesthetic and streamlined user experience. It’s a crucial step in scaling the app, laying a foundation for future innovation and new features.”

Download Vaunt today from your favorite app store.

About Vaunt:

Vaunt, a Volato Group company, is reshaping private aviation by providing accessible and affordable access to empty-leg flights. Using proprietary software and a user-friendly mobile app, Vaunt enables spontaneous and frequent travelers to experience private aviation with ease. All Vaunt flights are operated by its DOT/FAA- authorized air carrier affiliate or by an approved vendor air carrier.

About Volato:

Volato (NYSE American: SOAR) is a private aviation company advancing the industry with innovative solutions in aviation software and on-demand flight access. Volato’s proprietary Mission Control software drives efficiency across operations and supports operators in managing fractional ownership, charter, and other services. Volato’s Vaunt platform connects travelers with available private flights, offering a flexible option for on-demand travel. With a commitment to advanced technology and customer-focused solutions, Volato is building scalable tools to elevate service quality and operational effectiveness in private aviation. For more information visit www.flyvolato.com.

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/20241125105970/en/

For Media:

media@flyvolato.com

For Investors:

investors@flyvolato.com

Source: Volato Group, Inc.

FAQ

What are the new membership tiers announced by Volato (SOAR) in 2024?

Volato announced two membership tiers: Vaunt Core at $1,995 per year for light jets, and Vaunt Cabin Plus at $7,495 for midsize and larger jets.

How much does Vaunt Cabin Plus membership cost for Volato (SOAR)?

The Vaunt Cabin Plus membership costs $7,495 annually.

What features are included in Volato's (SOAR) Vaunt App Version 2.0?

Vaunt App Version 2.0 features a refined design, enhanced scalability, improved communication, and streamlined user experience for private flight bookings.

Can existing Volato (SOAR) Vaunt Core members keep their original pricing?

Yes, existing Vaunt Core members as of November 30, 2024, can renew their memberships at the original launch price of $995.