Volato Group, Inc. - SOAR STOCK NEWS

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 Group (NYSE American: SOAR), the largest HondaJet operator in the US, has announced fleet optimization measures to enhance operational efficiency and profitability. The company will remove five leased aircraft from its fleet, anticipating cost savings of $1.2 million per quarter. This decision aligns with expected new HondaJet deliveries and current demand growth.

Volato has been implementing cost-saving strategies, including renegotiating aircraft leases. While some agreements were successfully renegotiated, the company opted to end less profitable leases as part of its fleet optimization. Recent improvements in aircraft utilization, achieved through collaboration with Honda Aircraft Company, have enabled Volato to meet flight hour needs with fewer planes.

The company expects to receive 10 to 12 new aircraft in 2024, including 8-10 HondaJets and two Gulfstream G280s. These strategic adjustments aim to position Volato for long-term success in the private aviation industry.

Volato Group, Inc. (NYSE American: SOAR), the largest HondaJet operator in the U.S., reported Q2 2024 results. Total revenue increased 16% year-over-year to $15.1 million, driven by 28% growth in aircraft usage revenue. However, the company faced challenges with net loss increasing 72% to $16.9 million and Adjusted EBITDA loss rising 51% to $11.4 million.

Key operational highlights include:

• 5% growth in flight hours and 6% increase in blended yield
• Delivery of new HondaJet and Gulfstream G280 aircraft
• Launch of first Gulfstream G280 fractional ownership program in the U.S.
• $4 million debt financing secured post-quarter

Volato Group, Inc. (NYSE American: SOAR), the largest HondaJet operator in the United States, has announced the date for its Second Quarter 2024 earnings call. The company will release its financial results for the quarter ended June 30, 2024, before the market opens on August 14, 2024. A conference call to discuss the results is scheduled for 8:00 AM ET on the same day.

Interested parties can access the call by dialing 866-605-1830 (toll-free) or +1 215-268-9881. A live webcast will also be available on Volato's Investor Relations website. A replay of the call will be accessible until August 28, 2024, by dialing 877-660-6853 or 201-612-7415 with Access ID: 13746297.

Volato Group, Inc. (NYSE American: SOAR) has launched the first Fractional G280 Ownership Program in the United States, expanding its offering to the super-midsize category. The Gulfstream G280, capable of seating up to 10 guests with a range of 3,600 nautical miles, complements Volato's existing HondaJet fleet. CEO Matt Liotta emphasized the move addresses customer demand for larger aircraft for longer journeys and bigger groups.

Volato expects to receive two G280s this year, with the first arriving in August. The company will conduct a multi-city viewing tour from August 9-15, visiting Atlanta, Chicago, Los Angeles, Dallas, Miami, New York, and Houston. Fractional owners benefit from unlimited flying hours, no blackout days, and a guaranteed minimum revenue share of 650 hours per year for both HondaJet and G280.

Volato Group, Inc. (NYSE American: SOAR), the largest HondaJet operator in the US, has announced enhancements to its fractional program. The company has returned $8.5 million in revenue share to fractional owners since August 2021. Key updates for new buyers include:

1. Minimum Revenue Share Guarantee of 650 revenue hours annually for new HondaJet and G280 fractional aircraft.
2. Guaranteed Light Jet Availability for HondaJet program owners at 1.5 times the applicable HondaJet rate plus fuel.
3. Elimination of Repositioning Charges within the continental US.
4. Reduction in Peak Days by 8 days.

These changes aim to provide greater value, flexibility, and financial efficiency to fractional owners.

Volato Group, Inc. (NYSE American: SOAR), the largest HondaJet operator in the US, reported positive Q2 2024 operational KPIs. Highlights include:

- Record non-owner demand, contributing to blended yield and owner revenue sharing
- New Contribution metric showing improved aircraft usage profit margin
- Total Flight Hours: 3,052
- Empty Percentage: 36.1%
- Demand Mix: 44% Owner, 56% Program & Ad Hoc
- Blended Yield: $5,330
- Contribution: $734
- Floating Fleet: 25 aircraft
- Light Jet Market Share: 2.5%
- Net Promoter Score: 86

The company anticipates substantial new aircraft deliveries in H2 2024, positioning for continued growth and value delivery to investors and customers.

Volato Group, Inc. (NYSE American: SOAR), the largest HondaJet operator in the US, has appointed Mark Ozenick as President of Volato Aircraft Management Services (VAMS). With over 45 years of business aviation experience, Ozenick will lead the growth and expansion of Volato's aircraft management business. CEO Matt Liotta praised Ozenick's leadership, safety focus, and business acumen. Ozenick, founder of HeliFlite, has previously led Part 135 aviation companies and served as an advisor to major airlines. His appointment aims to strengthen Volato's position in the private aviation market and drive further growth in their aircraft management services.

Volato Group, a leading private aviation company and the largest HondaJet operator in the U.S., announced updates on its aircraft deliveries for 2024. The company expects to receive two HondaJets in June and two more in July. Additionally, Gulfstream will deliver Volato's first G280 in August. CEO Matt Liotta expressed excitement about these additions, emphasizing the company's goal of expanding its fleet with 8-10 HondaJets and 2 Gulfstream G280s this year. This move aligns with Volato's commitment to providing modern, safe, and comfortable travel options for its clients.