Summary
- Volato’s Vaunt service has reached $1 million in annual revenue in less than 8 months since launch.
- Subscribers pay $995 annually to apply for empty-leg flights, allowing them to experience private jet travel.
- Volato, the largest HondaJet operator in the US, achieved success by filling over 450 empty-leg flights.
On Tuesday, June 18, Volato announced that the Vaunt service it offers has recently achieved $1 million of annual recurring revenue (ARR). This revenue was achieved by paid subscriptions from its nearly 50,000 users. Vaunt, which is powered by Volato, the largest HondaJet operator in the United States, connects customers and its subscribers with empty-leg flights. This allows Volato to fill its empty-leg flights while simultaneously allowing private jet users to find cheaper flights.
Recently adapted platform
Vaunt was launched less than eight months ago by the Volato team. The platform charges subscribers only $995 for an annual subscription. The service allows each subscriber to apply for any empty-leg flight offered. The subscriber who is selected is then notified of their selection and allowed to achieve the full benefits of a Volato flight. However, this flight costs zero dollars outside the annual fee.
Photo: HondaJet
The President of Vaunt, Nicholas Cooper, spoke about the recent success of Vaunt. Cooper stated,
“We are pleased with the enthusiastic customer response to Vaunt, with nearly 45,000 registered users to date, helping us achieve the significant milestone of over $1 million in ARR, annual recurring revenue, in less than 8 months since our commercial launch. Our growing user base gives us a pipeline to acquire new subscribers as well as a critical mass of users for Vaunt to continue to share their Volato experiences with friends, family, and their networks. Vaunt is an example of how we can take a modern approach and leverage technology to turn an industry challenge into an opportunity.”
Since the platform’s launch less than eight months ago, Volato has filled over 450 empty-leg flights. This allows its customers to take advantage of the private jet experience, with many of these customers flying privately for the first time. It also allows Volato to reposition its aircraft prior to its next flight, as the aircraft would need to fly that way anyway.
About Volato
Volato is a unique private jet charter company with the goal of elevating the private aviation experience. The company lists sustainability as one of its main goals. Volato is the only Part 135 operator that offsets 100% of its carbon dioxide emissions. Volato operates several charter aircraft, as well as also managing aircraft for other operators. The aircraft that Volato charters allow passengers to fly just about anywhere in the continental United States, as well as nearby countries. The company was also listed as the fastest-growing private aviation company in 2023. It recorded over 12,000 flight hours in 2023, while it only flew 5,000 flight hours in 2022.
Related
Largest HondaJet Operator: Why Volato Chose To Operate HondaJets
An ideal match for their missions?
One unique feature of Volato is that it only operates two types of aircraft. The first aircraft, a very light business jet, is the HondaJet. This aircraft is ideal for short hops within the US, which is what Volato focuses on. Volato also operates the larger Gulfstream G280 for longer flights within the US.