Fractional jet provider Volato is offering a new structure for potential HondaJet owners. Share buyers can choose to pay no monthly management fees and instead pay a higher hourly usage charge.
This no monthly management fee program is designed for owners who fly infrequently but require guaranteed availability when they do fly, while also desiring the full benefits of aircraft ownership.
Same Initial Cost
Owners pay the same upfront ownership fee as Volato’s traditional fractional program, however, they will incur no monthly management fees for their full five-year term. They simply pay guaranteed hourly rates when they fly, at higher hourly rates than the program with monthly fees. All Owners share in the revenue generated from their aircraft, through a unique hourly rebate feature, and can fly as little or as much as they like.
“We are committed to continue on our path of innovation, offering solutions that are crafted for a diverse range of owners.” Said Norm Katz, Executive Vice President of Sales at Volato. “Owners in our traditional fractional program enjoy the flexibility of being able to fly as much as they like, and we saw a need to develop a solution to benefit those that fly infrequently. This no monthly management fee program makes it more financially efficient for the infrequent flyer to own their share in a private jet with the added benefit of earning revenue every time their aircraft flies a live mission.”
Volato chose the HondaJet because they say it is optimized for 80% of all private flights in the United States, flying four passengers up to 2.5 hours with more leg room than any other jet in its category. Volato will have a total of over 40 aircraft in its fleet upon delivery of its recently announced HondaJet order.
“Our unique HondaJet fractional program brought forward a range of customers that thought fractional ownership was either out of reach or too complicated,” said Nicholas Cooper, Co-Founder and Chief Commercial Officer of Volato. “This further simplified program aims to bring in new customers who value even greater financial flexibility, guaranteed flight availability and a regular revenue share over their five-year term.”
Volato Go! Program
At the end of 2022, Volato launched the fixed-cost, fixed leg charter flights program, Volato Go!. The program offers fixed price routes in key East and West Coast triangle markets. For instance, West Coast charter flights are:
- Los Angeles (VNY) / Las Vegas (LAS): $6,000 one way
- Los Angeles (VNY) / San Francisco (OAK): $7,000 one way
- San Francisco (OAK) / Las Vegas (LAS): $8,000 one way
And East Coast flights are:
- Miami (OPF) / Atlanta (PDK): $8,000 one way
- New York (TEB) / Atlanta (PDK): $10,000 one way
- New York (TEB) / Miami (OPF): $12,000 one way, with possible fuel stop
According to Volato the LA to Las Vegas leg is the most popular of these charter options so far.
Rapid Growth
Volato has grown quickly since its founding in 2021. The company added their Stretch Jet Card on the HondaJet in the the middle of 2022, which offers added benefits for customers who can be flexible with their flights. An order for Gulstream G280's came in November 2022 and was quickly followed by the order for 25 more HondaJets.