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Georgia boutique carrier Volato to buy at least five HondaJets from Honda Aircraft of Greensboro – Triad Business Journal – Triad Business Journal

Challenger 604

Another fractional ownership aircraft company is buying HondaJets from Greensboro-based Honda Aircraft (NYSE: HMC).
Headquartered in Valdosta, Georgia, Volato announced it will take delivery of a minimum of five HondaJet Elite S aircraft over a non-specified period of time, and has already sold shares of its first jet.
Volato joins Greensboro-based Jet It, which operates a similar business model with 10 aircraft and plans to double its fleet. 
According to the Valdosta Daily Times, Volato already had one HondaJet and three smaller Cirrus aircraft in its fleet. With its home base at Peachtree DeKalb Airport in Atlanta, the new HondaJets will be distributed to other bases of operation in the Southeast. Similar to Jet It, the company is offering HondaJet shares of one-sixteenth, one-eighth, one-fourth and one-half. Unlike Jet It, though, a customer can purchase a 100% share, and share ownership expires after five years. 
In addition to providing flight operations, Jet It’s business model allows the company to  monetize the aircraft by offering charter flights when not in use by owners. By contrast, Volato’s jet share owners can earn up to $1,250 profit per hour for underutilized entitled hours used by non-owners. Volato manages furnishings, maintenance, fees and flight operations.
“As existing jet-share owners, we are familiar with the decision owners have to make before each flight regarding whether they use their own aircraft or fly commercial,” Volato co-founder Nicholas Cooper told Valdosta Daily Times. “Our team is transforming the industry with an innovative business model that detaches ownership from usage, making it more practical and financially efficient for owners to use a private plane on more of their flights without compromising on safety, luxury or experience.
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