Fractional light jet operator Volato has released its first key performance indicator (KPI) report, which demonstrates the growth of the company over the past two years. From the first quarter of 2022 through the last quarter of 2023, Volato’s fleet flight hours have grown from 813 to more than 3,500 per quarter.
In addition, during that span the HondaJet operator’s share of the light jet passenger flying market has risen from 0.7 percent to 2.9 percent. Over the past year, the company has also conducted internal post-flight customer satisfaction surveys with its quarterly net promoter scores totaling 86 and above.
“In 2023 alone, Volato expanded its HondaJet fleet by 50 percent and increased its light jet market share to nearly 3 percent,” said Mark Heinen, the company’s CFO. “Even with this growth, we maintained our emphasis on providing high-quality customer experiences.”
Last month, the company went public after a SPAC merger that boosted its investment capital. “As a newly public company within a rapidly growing industry, we believe transparency is imperative,” Heinen added. “By providing stakeholders with clear insights into utilization and customer engagement metrics, we are further aligning transparency standards in the private aviation sector with those found in the commercial airline industry.”
Going forward, Volato said it will provide updated KPI information on a quarterly basis.