Volato, a new provider in the charter-fractional aircraft ownership arena, has launched a share program featuring the HondaJet Elite S. The Atlanta-based company received its first aircraft earlier this month and has already sold shares in it. An additional HondaJet is slated to join its fleet in December, and according to Phil Michaels, the company's chief strategy officer Volato expects to receive the balance of its 10-airplane order by the end of 2022.
The four-passenger HondaJet Elite S flies 120 nm farther than the standard model, and the company’s fleet includes customizations and amenities such as leather seating, surround-sound audio system, full galley with fresh-brew coffee maker, catered light fare, and champagne. Volato manages all aircraft maintenance, fees, and flight operations, while owners simply schedule flights through the company's app.
In addition to the five-year ownership packages ranging from a 1/16 share ($350,000) up to a full aircraft, the company offers flights for as low as $2,450 per hour, including fuel, and owners can earn up to $1,250 per hour on flights used by non-owners. The company will also have a jet card product and offer specially curated, all-inclusive "jet experience" travel packages.
“As existing jet-share owners, we are familiar with the decision owners have to make before each flight regarding whether they use their own aircraft or fly commercial,” said company co-founder Nicholas Cooper. “Our team is transforming the industry, with an innovative business model that detaches ownership from usage, making it more practical and financially efficient for owners to use a private plane on more of their flights without compromising on safety, luxury, or experience.”