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ATLANTA - Volato Group, Inc. (NYSE American: SOAR), a private aviation company currently valued at $3.17 million in market capitalization, announced the expansion of its Vaunt platform’s fleet through partnerships with JetVia, Koury Aviation, and an increased commitment from flyExclusive. The addition of 59 aircraft from these established operators brings the total number of aircraft available on Vaunt to 111, marking a significant step towards the platform’s aim for nationwide coverage.
This strategic growth follows the successful integration of flyExclusive’s fleet in late 2024, which has resulted in sustained double-digit Annual Recurring Revenue (ARR) growth, an expanding user base, and increased engagement on the platform. The company has demonstrated strong revenue growth of 97.25% over the last twelve months, though InvestingPro data shows challenges with an EBITDA of -$39.21 million. These factors signal Vaunt’s scalability and its potential for continued revenue generation within Volato’s tech-driven approach to private aviation.
The company’s Vice President of Marketing, Tim Graves, highlighted the platform’s strategy, stating, "Vaunt is executing on a simple but powerful premise: there is untapped value in every empty leg." He explained that by doubling the aircraft availability, Vaunt demonstrates to operators and investors its ability to address industry inefficiencies on a large scale.
Vaunt’s business model allows operators to monetize flights that would otherwise fly empty, integrating seamlessly with their existing schedules without disrupting core operations. The platform provides operators with immediate access to a growing member base without any upfront costs and a quick onboarding process.
The expansion is part of Vaunt’s ongoing efforts to grow its third-party operator program, inviting operators to join and gain access to its engaged membership. Vaunt distinguishes itself as an experiential private aviation platform, offering members access to spontaneous travel opportunities and unique experiences.
Volato’s proprietary Mission Control software underpins its operations, enhancing efficiency and supporting various services, including fractional ownership and charter flights. The company’s commitment to technology and customer-focused solutions positions it to improve service quality and operational effectiveness in the private aviation sector.
This expansion is expected to bolster Vaunt’s position in the market and contribute to Volato’s broader strategy in the private aviation industry. The information for this article is based on a press release statement.
In other recent news, Volato Group, Inc. has announced the commencement of its ground-based Bitcoin mining operations, marking a significant step towards integrating cryptocurrency mining with aviation technology. This initiative is expected to add Bitcoin to Volato’s balance sheet by the first quarter of 2025. Additionally, the company is developing a patent-pending aviation Bitcoin mining technology, selecting the Cessna Citation CJ series as the first aircraft platform for this endeavor. In another development, Volato has declared a 1-for-25 reverse stock split of its Class A common stock, set to take effect on February 24, 2025. This move aims to comply with NYSE American LLC’s per-share price requirements, reducing the total number of outstanding shares from approximately 46.1 million to about 1.8 million. All options, warrants, and other convertible securities will be adjusted to reflect the reverse split. Moreover, Volato disclosed a Settlement Agreement with Sunpeak Holdings Corporation, where Sunpeak will settle certain outstanding payables in exchange for shares of Volato’s common stock. However, a portion of these claims will be settled directly by Volato through cash payments. These recent developments highlight Volato’s ongoing strategic initiatives and financial maneuvers.
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