Volato Group, Inc. - SOAR STOCK NEWS

On June 18, 2024, Volato (NYSE American: SOAR) announced it received a notice from NYSE American indicating non-compliance with listing standards. The company needs to submit a plan by July 18, 2024, to outline measures to regain compliance by December 18, 2025. If the plan is not approved, delisting proceedings will commence. The notice does not immediately affect Volato’s stock and warrant listings, which will continue to trade under the tickers 'SOAR' and 'SOAR.WS' respectively. The company remains committed to regaining compliance but cannot guarantee success within the specified timeframe. More details can be found in Volato’s Current Report on Form 8-K filed with the SEC on June 21, 2024.

Vaunt, powered by Volato (NYSE American: SOAR), has achieved $1 million in annual recurring revenue (ARR) within eight months of its commercial launch. The platform, which connects travelers to private flights, has attracted nearly 45,000 registered users. It aims to solve the issue of repositioning empty planes by filling these 'empty legs' with new customers. Vaunt charges an annual subscription fee of $995, offering unlimited empty-leg flights at no additional cost. So far, over 450 empty leg flights have been filled through Vaunt, reducing the number of repositioning flights. The app is available on the Apple App Store and Google Play.

Volato Group (NYSE American: SOAR), a top private aviation company and the largest HondaJet operator in the U.S., has equipped its first HondaJet with the SmartSky LITE™ inflight connectivity system. This system is the only streaming-level connectivity solution for small business aircraft. The initiative follows a prior agreement to equip Volato's entire HondaJet fleet with SmartSky LITE™ systems. CEO Matt Liotta emphasized that this upgrade aligns with customer feedback and aims to enhance the in-flight experience. Early feedback has been positive, highlighting seamless connections and high-speed internet.

Volato, trading on NYSE American under the symbol SOAR, has announced that its CEO Matt Liotta and CFO Mark Heinen will participate in the Jefferies Business Aviation Summit. The virtual fireside chat will take place on June 4, 2024, at 9:20 AM ET. Volato is recognized as a leading private aviation company and the largest operator of HondaJet in the United States.

Participants can contact their Jefferies representative to access the webcast and replay of the event.

Volato, a leading private aviation company and the largest HondaJet operator in the U.S., announced its second annual Safety Summit. The event will be held on June 25-26, 2024, in Atlanta, GA. The summit aims to advance safety standards across the private aviation industry, featuring industry stakeholders, aviation professionals, and thought leaders. Key topics include safety management system regulatory mandates for Part 135 operators. Partners like the National Business Aviation Association and Flight Safety International will present. Volato's CEO, Matt Liotta, emphasized the company's commitment to high safety standards. The event is open for registration, and attendees can avail discounted rates at Hotel Colee.

Volato, a prominent private aviation company and largest HondaJet operator in the U.S., has appointed Luis Garcia as Executive Vice President of Sales. Garcia brings over 19 years of expertise in private aviation sales and operations. His previous roles include Senior Vice President of Sales at Wheels Up and Starbase Jet, where he excelled in membership generation and team development. At Volato, he will drive nationwide sales, enhance market awareness, and expand the sales team as the company receives new HondaJets and Gulfstream G280s. Volato’s CEO, Matt Liotta, emphasized Garcia’s alignment with the company’s modern, customer-focused approach.

Volato Group, a leading private aviation company and the largest HondaJet operator in the US, reported its Q1 2024 results. Total revenue was $13.2 million, with aircraft usage revenue rising 72% to $11.5 million. However, total revenue decreased 16% due to no aircraft deliveries. The net loss increased by 131% to $17.4 million, with an adjusted EBITDA loss of $13.1 million.

The company grew flight hours by 39% and improved blended yield by 8% YoY. Volato also secured $14.5 million in new financing and is implementing cost-saving measures to reduce SG&A expenses by $3 million per quarter. Despite OEM delivery delays, the company expects to receive 10-12 new aircraft in FY 2024 and forecasts positive gross margin and EBITDA by Q4 2024.

Volato Group, Inc. (NYSE American: SOAR) will attend the Sidoti Micro Cap Virtual Conference with CEO Matt Liotta and CFO Mark Heinen presenting on May 8 - 9, 2024. They will discuss Volato's private aviation services and HondaJet operations. Investors can schedule one-on-one meetings and access the webcast through Volato's Investor Relations website.

Vaunt, a platform for connecting travelers to private flights, achieved its first cash-positive month in March, reaching $500,000 in annual recurring revenue. Launched in Q4 2023, Vaunt has 25,000+ registered users and addresses the issue of empty-leg flights in the private aviation industry. The success is attributed to consumer enthusiasm and rapid growth, showcasing the potential of technology to make private aviation more accessible. Vaunt's subscription model charges $995 annually, offering unlimited empty-leg flights for users.