Atlanta-based fractional aircraft provider Volato is starting the year off with a bang with an order for 15 HondaJets. The company launched last year with just one specially modified four-passenger HondaJet Elite S—Volato’s aircraft offer galleys and lavatories—and now operates five of the light jets. It will have a fleet of 22 once this latest order is completed.
Its program offers five-year terms with fractional shares ranging from one-sixteenth shares to full ownership. According to Volato, it has sold most of its current inventory of HondaJets, with limited fractional ownership shares available on upcoming first-quarter 2022 aircraft deliveries.
For fractional owners, the per-hour flight cost is as low as $3,200 plus fuel expense and, depending on the departure distance from the nearest company base, repositioning fees are either reduced or eliminated from owner flight charges.
“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,” said company CEO Matt Liotta. “The ease of booking, convenience of check-in, comfort, and now cost are all attractive for private flight.”
Last month, the company rolled out a by-the-hour charter service for non-owner customers, with a portion of the revenue returned to the fractional owners.
“The launch of our charter service completes our business model,” explained Volato co-founder and chief revenue officer Nicolas Cooper. “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.