Volato’s market share climbs to 2.4% in light jet category


US-based private aviation company Volato’s market share in the light jet category increased to 2.4% by the end of 2023 from 1% in 2022, company’s annual key performance indicators showed.

“In 2023 alone, Volato expanded its HondaJet fleet by 50% and increased its light jet market share to nearly 3%. This is a testament to Volato’s focus on delivering operational excellence while growing positive contribution margin from flight operations,” said Mark Heinen, CFO, Volato.

“Even with this tremendous growth, we maintained our emphasis on providing high quality customer experiences. This is evident in the consistency of our overall Net Promoter Score and validates the investments we continue to make in this area to create ongoing value for our customers.”

As per the data published by the company, Volato booked 11,273 total flight hours during 2023, an increase of 124% from last year.

The company also provided the net promoter score (NPS) for the quarters during 2023. The company said that “customer satisfaction drove a Net Promoter Score of 86 or better throughout FY 2023, while its ability to grow its share of the light jet market is indicative of Volato’s expanded market penetration.”

To note, the company’s NPS during the first, second and third quarter of 2023 was 86, ,89 and 90 respectively.

Earlier, the company announced it had successfully expanded its fleet by 50% to a total of 24 HondaJet aircraft by December 2023.

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