Volato Announces Strategic Agreement with flyExclusive and Outlines Continued Growth Plans
Volato Group, Inc. Class A (SOAR)
Company Research
Source: Business Wire
ATLANTA--(BUSINESS WIRE)--Volato, the largest operator of HondaJet aircraft in the United States, today announced an agreement with flyExclusive, Inc. (NYSEAMERICAN: FLYX), a leading provider of private jet charter services, to transition the management of its fleet operations to flyExclusive. This move is expected to bring substantial cost savings and provide Volato with the opportunity to focus on its high-growth areas, including aircraft sales and proprietary software.Under the terms of the Aircraft Management Services Agreement (AMS), flyExclusive will take over all aspects of operating Volato's fleet, including both revenue and expenses. This transition will allow Volato to reduce its cost base by transferring the operational responsibilities to flyExclusive, which anticipates that the fleet will be profitable under its management.“We are excited about the potential of this agreement, which provides significant benefits to both Volato and flyExclusive,” said Matt Liotta, CEO
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- 9/18/24 - Form 25-NSE
- 9/13/24 - Form 424B3
- 9/13/24 - Form 8-K
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