Volato adds eight new aircraft to its fleet in 2023

Private aviation company Volato, largest HondaJet operator in the US, announced that it expanded its fleet by 50% to a total of 24 HondaJet aircraft as of December 2023.

The expansion includes the addition of three new aircraft delivered in December – two from direct Honda deliveries, and one managed plane, taking the total to eight aircraft added in 2023.

“Volato’s measured and thoughtful approach to fleet expansion is critical to achieving our long-term plan for sustainable growth,” said Matt Liotta, Co-Founder and CEO, Volato.

“We have been creative and judicious in acquiring HondaJets through the open market while continuing to receive new aircraft from our HondaJet factory order. The recent deliveries allow us to expand our capacity at a pivotal time in Volato’s growth and increase our capacity to support our growing customer base.”

New aircraft delivery from Honda contributes to keeping Volato’s fleet one of the youngest in the industry. Fleet modernity allows Volato to ensure heightened reliability and efficiency.

Moreover, Volato expects to add addition 10 HondaJet aircraft to its fleet in 2024.

In addition, The company has also signed a letter of intent with HondaJet for its new Echelon aircraft which will be the first light jet capable of transcontinental flights.

Meanwhile, Volato recently completed its SPAC merger with Proof Acquisition Corp. (PACI) and began trading on the New York Stock Exchange under the ticker symbol SOAR. It raised new capital to over $60m – together with the conversion of Volato’s convertible debt. The company boasts of a strong revenue base diversified across its offerings.

In 2022, it reported revenue of $96m – mostly from its fractional ownership ($45m) and aircraft management ($35m) business. The remaining $16m came from the company’s jet card programs.