Volato Floats $25 Million Debt Offering | Aviation International News

Charter & Fractional

Volato Floats $25 Million Debt Offering

Fractional provider Volato is raising $25 million to finance more HondaJets.

By Mark Huber • Contributor

April 5, 2023

Atlanta-based Volato is floating a $25 million convertible debt to equity offering that the fractional operator is expected to use in part to finance the acquisition of 25 HondaJet Elite II twinjets. Those aircraft, with a retail value of $174 million, were ordered late last year and will join Volato’s existing fleet of 17 HondaJets, making Volato the largest operator of the type. According to a recent Form D filing with the U.S. Securities and Exchange Commission, the company already has raised $9 million of the amount, which it is offering in minimum amounts of $250,000.

Founded in September 2021 with a single HondaJet Elite S, Volato has moved quickly to establish bases in Atlanta; Baltimore; St. Augustine and Fort Lauderdale, Florida; and Carlsbad, California. Volato also has a base at Houston Hobby Airport that is part of its recent acquisition of Gulf Coast Aviation and offers access to additional aircraft, including King Air 350s and Hawker 750s.

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