Charter & Fractional
Volato Sees 1Q Growth but Losses Widen
The fractional operator expects to achieve a positive growth margin by the end of 2024
Volato HondaJet on ramp
While it increased the total flight hours of its HondaJet fleet by 39% in the first quarter compared to the same period last year, Volato's net loss increased by 130%. The operator expects that this year's fleet additions will help firm up its finances. © Curt Epstein/AIN

Fractional aircraft provider Volato’s fleet flight hours grew by nearly 40% year over year, according to the company’s newly released first-quarter results. For the three-month period, revenues totaled $13.2 million, with aircraft usage accounting for $11.5 million of that amount and managed services making up the remainder. This was weighed against an adjusted EBITDA loss of $13.1 million.

The operator’s demand mix achieved a balance of 50% owner flights and 50% program and ad hoc usage, which according to Volato reflects strong demand and contributed to its blended yield. It also improved its empty flight percentage by more than 6% YOY, with Vaunt—its subscription platform that allows access to empty-leg private flights—achieving cash-positive status.

In this article