flyExclusive has signed a deal to provide aircraft management services to Volato Group Inc.
Takeaway Points
- flyExclusive Signs Deal to Provide Aircraft Management Services to Volato Group Inc.
- The company will manage the flight operations, sales, and expenses of Volato’s fleet, made up of 13 fully fractionalized aircraft, 8 leased aircraft, and 4 managed aircraft under the terms of the agreement.
- The company will also execute the flights for the Volato customer base of approximately 184 fractional customers and 265 block customers on the Volato certificate until they are moved over to FLYX agreements.
- Volato recorded over 1,000 hours per month and over 12,000 total flight hours in 2023.
What deal did flyExclusive sign with Volato Group Inc.?
flyExclusive, Inc. (“flyExclusive” or the “Company”), a publicly traded provider of premium private jet charter experiences, said on Tuesday that it has entered into an Aircraft Management Services Agreement (“AMS”) with Volato Group, Inc. (“Volato”), the largest HondaJet operator in the United States.
The company said it will manage flight operations, sales, and expenses of Volato’s fleet, made up of 13 fully fractionalized aircraft, 8 leased aircraft, and 4 managed aircraft under the terms of the agreement. The goal is to transfer aircraft to the flyExclusive certificate, which will occur over the coming months in coordination with the FAA.
Jim Segrave, Founder and CEO of flyExclusive, said, “As a fully integrated operator, flyExclusive is well-positioned to offer synergistic value to Volato’s clients and deliver enhanced value for our overall growing customer base. Over the years, we’ve made strategic investments to remove industry bottlenecks and grow and maintain a leading, consistent customer experience. We’re proud to welcome Volato’s customers and look forward to offering them access to our growing fleet of light, midsize and super-midsize jets.”
Matt Liotta of Volato said, “flyExclusive is a proven operator with a robust platform and unwavering focus on the customer experience. This agreement provides mutual benefit to both of our companies and, most importantly, our customers benefit by increased flight and service options with the reliable and high-quality service they have come to expect from best-in-class operators.”
The company will also execute the flights for the Volato customer base of approximately 184 fractional customers and 265 block customers on the Volato certificate until they are moved over to FLYX agreements, in addition to Volato’s retail and wholesale business. This will significantly increase the FLYX direct-to-customer facing business as planned nearly immediately, the report stated.
Volato recorded over 1,000 hours per month and over 12,000 total flight hours in 2023.
About flyExclusive
flyExclusive is a vertically integrated, FAA-certificated air carrier providing private jet experiences by offering customers a choice of on-demand charter, Jet Club, and fractional ownership services to destinations across the globe. flyExclusive has one of the world’s largest fleets of Cessna Citation aircraft, and it operates a combined total of approximately 100 jets, ranging from light to large cabin sizes. The company manages all aspects of the customer experience, ensuring that every flight is on a modern, comfortable, and safe aircraft. flyExclusive’s in-house repair station, aircraft paint, cabin interior renovation, and avionics installation capabilities, are all provided from its campus headquarters in Kinston, North Carolina.
