Charter & Fractional
Volato Cuts Five Jets from Fleet Amid Financial Issues
Company said move is "cost efficiency measure"
Volato, who operates exclusively HondaJet Elite S aircraft has grown its fleet and expanded its charter operations to Baltimore, Maryland and the greater Washington, D.C. area. Operations will be supported by Trident Aviation's two Maryland locations.
Volato, who operates exclusively HondaJet Elite S aircraft has grown its fleet and expanded its charter operations to Baltimore, Maryland and the greater Washington, D.C. area. Operations will be supported by Trident Aviation's two Maryland locations.

Volato has cut five aircraft from its fleet in a move the company has characterized as part of “ongoing efforts to enhance operational efficiency and profitability.” The announcement comes on the heels of the company’s quarterly financial report indicating a net loss of $34.3 million in the six months this year. In the second quarter, it reported more than $17 million in losses.

The company said it expects to save  $1.2 million per quarter as a result of the fleet reduction. Volato also secured a $4 million term loan at the end of the quarter which it says will enhance its “cash position and support (it) on (the company’s) path to profitability.” It is still expecting the delivery of eight to 10 HondaJets and two Gulfstream G280s in this fiscal year.