Volato Announces Fleet Update and Cost Efficiency Measures
Volato Group, Inc. Class A (SOAR)
Company Research
Source: Business Wire
ATLANTA--(BUSINESS WIRE)--Volato Group, Inc. (“Volato,” or the “Company”) (NYSE American: SOAR), a leading private aviation company and the largest HondaJet operator in the United States, today announced further steps in its ongoing efforts to enhance operational efficiency and profitability. As part of this strategy, the company will be removing five leased aircraft from its fleet, a decision that aligns with the anticipated delivery of new HondaJets and the current pace of demand growth. This action is expected to provide approximately $1.2 million per quarter in cost savings.This announcement follows previous public statements in which Volato outlined a commitment to cost-saving measures, including the renegotiation of aircraft leases. While Volato successfully renegotiated several agreements, efforts to renegotiate the leases on these aircraft did not yield terms that aligned with the company’s financial objectives. As a result, Volato has decided to end these less profitable
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SOAR
Sec Filings
- 9/18/24 - Form 25-NSE
- 9/13/24 - Form 424B3
- 9/13/24 - Form 8-K
- SOAR's page on the SEC website