Volato, the largest HondaJet operator in the United States, added to its fleet in 2023 and plans to add even more aircraft in 2024. Here’s a look at the recent additions and program changes and the latest financial results from the company.

Aircraft Fleet Growth

Volato is now number 17 on the list of largest private aircraft operators in the United States. At the end of 2023 it had a floating fleet of 24 HondaJets, with 11 of these in its fractional program and 13 leased aircraft.

The company also has placed firm orders for 22 HondaJets and 4 Gulfstream G280s to be delivered in 2024 and 2025. With expected deliveries of 10-14 new aircraft in 2024, including the first Gulfstream G280’s. In comparison it only received 3 new Honda aircraft in 2023.


Volato offers fractional jet ownership in the 4 passenger HondaJet and also the super-mid 10 passenger G280. Initial prices for a 1/16th share in the HondaJet start at about $550k. One unique aspect of the fractional program, is that owners are not buying a specific number of hours each year. So there’s flexibility on how much they fly and owners share in the revenue generated by their aircraft every time it flies a live mission, even when they fly.

The Insider program is Volato’s jet card type product, and provides capped rates on highly trafficked routes inside or between certain cities. There are also dynamic rates right across the US.

The Vaunt app was launched last year and provides access to the repositioning (or empty legs) across the Volato fleet and costs just $1,000 for a year, no matter how many flights you take.


At the end of 2023 Volato completed a business combination with PROOF Acquisition Corp and is now a listed company on the NYSE American with the ticker symbol “SOAR”.

The results for full year 2023 show total revenue was $73.3 million and the bottom line net loss was $52.8 million, including the impact of a $13.4 million non-cash charge.

The shortage of new aircraft it received in 2023 impacted the revenue, since the company recognizes revenue when it sells fractional shares in a new aircraft delivery. The additional aircraft deliveries in 2024 should raise the revenue significantly. Volato had built up its base expecting more deliveries and says it expects to benefit from economies of scale with a larger fleet and fewer empty legs.

Matt Liotta, Co-Founder and Chief Executive Officer of Volato, commented, “2023 marked a successful year of executing on our strategic priorities, scaling our fleet, expanding market share, and continuing to demonstrate Volato’s exceptional value to customers. We expanded the size of our floating fleet to 24 HondaJets in 2023, increasing aircraft usage revenue by 162% year-over-year, and providing us with greater flexibility to meet growing customer demand.”

And added “Industry factors beyond our control – specifically aircraft delivery delays – put downward pressure on topline revenue in 2023. We are in close contact with our suppliers and partners and understand that production and supply chain issues are easing, providing us with good visibility into our 2024 and 2025 delivery pipeline. We expect continued fleet expansion will propel revenue and margin in several ways, including increased fractional sales and operating revenue, and more efficient aircraft utilization. We remain focused on growth and our path to profitability.”