Welcome to our dedicated page for Volato Group Inc-A news (Ticker: soar), a resource for investors and traders seeking the latest updates and insights on Volato Group Inc-A stock.
Volato Group, Inc. (symbol: SOAR) operates within the private aviation sector, offering a variety of services aimed at making luxury air travel more accessible and efficient. The company's core business includes an aircraft ownership program, ad-hoc charter flights, the sale of deposit products, and comprehensive aircraft management for private owners.
Volato's fractional ownership program is one of its standout services. This program is notable for its flexibility, providing owners with customizable flight hours and a revenue-sharing model. This is particularly advantageous for clients who utilize the fleet of HondaJets for missions accommodating up to four passengers. These jets are optimized for efficiency, offering both comfort and cost-effectiveness for short-haul trips.
In addition to fractional ownership, Volato offers managed aircraft services, ensuring that aircraft owners' investments are maintained to the highest standards. The company's jet card and deposit programs provide additional flexibility and convenience for frequent flyers, enabling them to pre-purchase flight hours at competitive rates.
Volato has recently achieved significant milestones, including the expansion of its fleet and the enhancement of its service offerings. The company is financially sound, focusing on sustainable growth and innovation within the private aviation industry. It has also formed strategic partnerships to broaden its reach and enhance the value provided to its clientele.
Overall, Volato Group, Inc. stands out in the private aviation market with its commitment to flexibility, efficiency, and customer-centric services, making it a noteworthy entity for investors and clients alike.
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.
Volato Group announced it received a notice from NYSE American on June 18, 2024, regarding non-compliance with continued listing standards. The company failed to meet the stockholders' equity requirements of $2.0 million and $4.0 million as per Sections 1003(a)(i) and 1003(a)(ii) of the NYSE American Company Guide due to reported losses. Volato must submit a compliance plan by July 18, 2024, and regain compliance by December 18, 2024, to avoid delisting. The notice does not impact the immediate trading of Volato's stock (SOAR) and warrants (SOAR.WS). The company remains operational and is committed to regaining compliance but cannot guarantee success within the specified timeframe.
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.
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