Volato Announces Fleet Update and Cost Efficiency Measures
This announcement follows previous public statements in which Volato outlined a commitment to cost-saving measures, including the renegotiation of aircraft leases. While Volato successfully renegotiated several agreements, efforts to renegotiate the leases on these aircraft did not yield terms that aligned with the company’s financial objectives. As a result, Volato has decided to end these less profitable leases as part of its broader fleet optimization strategy.
“We have always been transparent about the challenges we face, including delayed aircraft deliveries and the need to manage our fleet size prudently,” said
Volato’s fleet optimization is also supported by recent improvements in aircraft utilization. The company has worked closely with
“We remain confident in the future delivery of new HondaJets and in our ability to meet the evolving needs of our customers,” added Liotta. “By right-sizing our fleet now, we are ensuring that our operations remain efficient and aligned with both current and future demand.”
These strategic adjustments are a key part of Volato’s broader effort to ensure the company is well-positioned for future growth. As new aircraft are delivered and demand continues to rise, Volato is committed to maintaining the high level of service and innovation that has made it a leader in the private aviation industry.
The Company continues to expect to take delivery of a total of 10 to 12 new aircraft in 2024, including 8 to 10 HondaJets and two Gulfstream G280s.
Cautionary Note on Forward Looking Statements
This press release contains certain "forward-looking statements" within the meaning of the federal securities laws. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of the control of Volato that could cause actual results to differ materially from the results discussed in the forward-looking statements. The words "anticipate," "believe," continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "strive," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that statement is not forward-looking. These forward-looking statements are subject to a number of risks, uncertainties and assumptions that could cause actual events and results to differ materially from those contained in such forward-looking statements. Factors that could cause actual results to differ materially from those expressed or implied in forward-looking statements can be found in the Annual Report on Form 10-K, filed with the
About Volato
Volato (NYSE American: SOAR) is a leader in private aviation, redefining air travel through modern, efficient, and customer-designed solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit and charter programs, all powered by advanced, proprietary mission control technology. Volato's fractional programs uniquely offer flexible hours and a revenue share for owners across the world’s largest fleet of HondaJets, which are optimized for missions of up to four passengers. For more information visit www.flyvolato.com.
All Volato Part 135 charter flights are operated by its DOT/
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