Fractional aircraft provider Volato has begun the new year with an order for 15 HondaJets. The Altlanta-based firm launched last year with a single four-passenger HondaJet Elite S. It now operates five of the light jets and will have a fleet of 22 once this latest order is completed.
Volato CEO, Matt Liotta, said: “The private aviation industry has long needed an overhaul with a focus on efficiency for up to four-passenger missions and as we enter year three of the pandemic, it’s clear the aviation industry has changed for good. The ease of booking, convenience of check-in, comfort, and now cost are all attractive for private flight.”
Volato’s programme offers five-year terms with fractional shares ranging from one-sixteenth shares to full ownership. The firm says it has sold most of its current inventory, with limited fractional ownership shares available on its upcoming deliveries.
Last month, the company rolled out a by-the-hour charter service, with a portion of the revenue returned to the fractional owners.
Volato co-founder and chief revenue officer Nicolas Cooper, said: “The launch of our charter service completes our business model. We are launching another revenue stream for our owners where they can earn up to $1,250 on every live flight hour, irrespective of who is flying. When factored in, that can lower the cost of flight for fractional owners to under $2,000 per hour plus fuel at cost.”
