Volato adds fee-free fractional card
Atlanta-based operator Volato is launching an alternative fractional card with no monthly management fees for its HondaJet fleet.
The programme will mean that clients be charged the same upfront fractional ownership cost as the traditional jet card offering, but will pay higher hourly rates.
The new offering will suit infrequent flyers, according to Volato. Under the traditional offering, monthly management fees for a 1/16th share are $5,350 with an hourly price of $3,450 plus fuel, whereas the new card charges $5,600 per hour plus fuel.
Clients with a full share pay $69,650 per month in management fees under the traditional card, with the same hourly rate of $3,450 plus fuel. The new fee-free card offers full share clients $5,200 hourly rates plus fuel.
The fee-free offering will work best for clients who aren’t making monthly flights. If a client is flying monthly for more than one hour per month, the traditional card will be more cost-effective.
“Owners in our traditional fractional programme enjoy the flexibility of being able to fly as much as they like, and we saw a need to develop a solution to benefit those that fly infrequently,” said Norm Katz, executive vice president of Sales, Volato. “This no monthly management fee programme makes it more financially efficient for the infrequent flyer to own their share in a private jet with the added benefit of earning revenue every time their aircraft flies a live mission.”
Nicholas Cooper, co-founder and chief commercial officer, Volato added: “Our unique HondaJet fractional programme brought forward a range of customers that thought fractional ownership was either out of reach or too complicated. This further simplified programme aims to bring in new customers who value even greater financial flexibility, guaranteed flight availability and a regular revenue share over their five-year term.”
In January, Volato launched its Broker Rewards Program which gives individual brokers up to 4% cash commission when booking Volato’s fleet.