April 18, 2024
HondaJet fractional operator Volato is now offering an option that trades higher hourly rates for waiving monthly management fees.
Fractional private jet operator Volato is rolling out an alternative fractional program with no monthly management fee on its HondaJet fleet.
The program is designed for owners who want to enjoy the benefits of fractional ownership but are seasonal or infrequent flyers themselves.
The no-monthly management fee program is being launched in addition to the provider’s current fractional option and its jet card and city pair fixed rates.
Owners will pay the same upfront ownership cost as Volato’s traditional fractional program.
However, they will incur no monthly management fees for their full five-year term. They pay their contracted hourly rates when they fly.
Via the traditional approach, monthly management fees range from $5,350 (1/16th share) to $69,650 (full share). Hourly flight price is then $3,450 plus fuel.
The new option gives an hourly rate from $5,600 plus fuel (1/16th share) to $5,200 plus fuel (full share).
As with Volato’s traditional fractional program, owners share in the charter revenue generated from their aircraft and can fly as little or as much as they like.
“We are committed to continuing on our path of innovation, offering solutions that are crafted for a diverse range of owners,” said Norm Katz, Volato’s Executive Vice President of Sales, in a press release.
He continued, “Owners in our traditional fractional program enjoy the flexibility of being able to fly as much as they like, and we saw a need to develop a solution to benefit those that fly infrequently. This no monthly management fee program makes it more financially efficient for the infrequent flyer to own their share in a private jet with the added benefit of earning revenue every time their aircraft flies a live mission.”
Between the current fleet and orders, Volato will have over 40 HondaJets in its fleet.
“Our unique HondaJet fractional program brought forward a range of customers that thought fractional ownership was either out of reach or too complicated,” said Nicholas Cooper, Co-Founder and Chief Commercial Officer of Volato.
He added, “This further simplified program aims to bring in new customers who value even greater financial flexibility, guaranteed flight availability, and a regular revenue share over their five-year term.”
Volato also offers aircraft management and is adding a Gulfstream G280 super midsize program.
Volato joins FlyExclusive in offering a no-monthly management fee fractional program. In the case of the latter, its pricing includes a daily access charge similar to its jet card program.
