Welcome to our dedicated page for Volato Group Inc-A news (Ticker: soar), a resource for investors and traders seeking the latest updates and insights on Volato Group Inc-A stock.
Volato Group Inc-A (SOAR) provides innovative private aviation solutions through fractional ownership programs and aircraft management services. This news hub offers investors and industry professionals centralized access to official company announcements and market developments.
Track all SOAR-related press releases, including earnings reports, strategic partnerships, operational updates, and regulatory filings. Our curated collection ensures timely access to material information affecting investment decisions in the aviation sector.
Key updates cover aircraft acquisition programs, jet card service expansions, fleet management innovations, and leadership announcements. Users gain insights into how SOAR navigates evolving demands in luxury air travel and asset utilization strategies.
Bookmark this page for streamlined monitoring of SOAR's corporate milestones. Verify facts directly from primary materials before making financial decisions, and check regularly for new filings reflecting the company's market position.
Volato, a prominent private aviation company and largest HondaJet operator in the U.S., has appointed Luis Garcia as Executive Vice President of Sales. Garcia brings over 19 years of expertise in private aviation sales and operations. His previous roles include Senior Vice President of Sales at Wheels Up and Starbase Jet, where he excelled in membership generation and team development. At Volato, he will drive nationwide sales, enhance market awareness, and expand the sales team as the company receives new HondaJets and Gulfstream G280s. Volato’s CEO, Matt Liotta, emphasized Garcia’s alignment with the company’s modern, customer-focused approach.
Volato Group, a leading private aviation company and the largest HondaJet operator in the US, reported its Q1 2024 results. Total revenue was $13.2 million, with aircraft usage revenue rising 72% to $11.5 million. However, total revenue decreased 16% due to no aircraft deliveries. The net loss increased by 131% to $17.4 million, with an adjusted EBITDA loss of $13.1 million.
The company grew flight hours by 39% and improved blended yield by 8% YoY. Volato also secured $14.5 million in new financing and is implementing cost-saving measures to reduce SG&A expenses by $3 million per quarter. Despite OEM delivery delays, the company expects to receive 10-12 new aircraft in FY 2024 and forecasts positive gross margin and EBITDA by Q4 2024.
Volato Group, Inc. (NYSE American: SOAR) will attend the Sidoti Micro Cap Virtual Conference with CEO Matt Liotta and CFO Mark Heinen presenting on May 8 - 9, 2024. They will discuss Volato's private aviation services and HondaJet operations. Investors can schedule one-on-one meetings and access the webcast through Volato's Investor Relations website.
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