Volato Group Inc-A - SOAR STOCK NEWS

Volato (NYSE American: SOAR) reported Q3 2024 results showing early progress in its turnaround strategy. The company achieved total revenue of $40.3 million, including $38.2 million from aircraft sales, $1.8 million from managed services, and $0.3 million from software subscriptions. Despite a net loss of $1.3 million, Volato achieved positive Adjusted EBITDA of $3.2 million.

Key developments include the delivery of two HondaJets and first Gulfstream G280, a strategic partnership with flyExclusive for fleet operations, and a 75% reduction in SG&A to $0.7 million quarterly. The company's Vaunt platform reached $1.5 million in annual recurring revenue.

Volato Group (NYSE American: SOAR) has announced the launch of Vaunt's third-party operator program following the successful integration of flyExclusive, the fifth-largest operator in the United States. The program allows private aviation operators to join Vaunt's platform, leveraging its technology and member base to maximize empty leg flight utilization. Through this expansion, operators can benefit from increased visibility and operational efficiency while providing Vaunt members with broader access to empty leg flights.

Volato Group (NYSE American: SOAR) has announced that its platform Vaunt has achieved a significant milestone by making flyExclusive flights available to users. The integration brings light, midsize, and super-midsize jets to Vaunt's platform, expanding options for private travelers. This marks the first phase of planned enhancements, with more additions and features expected in the coming months as part of Volato's strategy to increase flight availability and platform capabilities.

Volato Group (NYSE American: SOAR) has announced that the NYSE American has accepted its compliance plan for continued listing on the exchange. This follows a notice received on June 18, 2024, stating that Volato was not in compliance with listing standards related to stockholders' equity and reported losses. The company submitted a plan by July 18, 2024, and on September 5, 2024, received notice of its acceptance.

The NYSE American has granted Volato a plan period through December 18, 2025, during which the company will be subject to quarterly reviews. If Volato fails to regain compliance or make sufficient progress, the NYSE American may initiate delisting proceedings. The company's stock will continue to be listed during this period, and its business operations and SEC reporting requirements remain unaffected.

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.