Volato publishes NPS, flight hours, market share

HondaJet operator Volato is publishing three Key Performance Indicators. The company’s goal is to provide more transparency in the marketplace.

In its Q3, analysts call Wheels Up published on-time performance and flight completion percentage.

“In 2023 alone, Volato expanded its HondaJet fleet by 50% and increased its light jet market share to nearly 3%. This is a testament to Volato’s focus on delivering operational excellence while growing positive contribution margin from flight operations,” said Mark Heinen, Volato’s Chief Financial Officer.

He added, “Even with this tremendous growth, we maintained our emphasis on providing high-quality customer experiences. This is evident in the consistency of our overall Net Promoter Score and validates the investments we continue to make in this area to create ongoing value for our customers.”

In a press release, Volato said that disclosing Total Flight Hours, Light Jet Market Share and Net Promoter Score offers “stakeholders with greater transparency into the company’s aircraft utilization and overall customer engagement.”

‘World Class’ NPS

During 2023, Volato maintained an NPS of between +86 and +90.

The scale runs from -100 to +100.

According to Bain & Company, which invented NPS, above 0 is good, and higher than 80 is world-class.

Volato’s NPS is based on post-flight customer surveys.

Private Jet Card Comparisons subscribers rated Volato as among the top providers for customer satisfaction in our annual survey.

“As a newly public company within a rapidly growing industry, we believe transparency is imperative. By providing stakeholders with clear insights into utilization and customer engagement metrics, we are further aligning transparency standards in the private aviation sector with those found in the commercial airline industry. More importantly, greater disclosure also means that our stakeholders can make better-informed decisions, which is foundational for customer trust and satisfaction,” Heinen says.

According to Argus data, Volato flight hours they increased four-fold from Q1 of 2022 to Q4 of 2023, jumping from 813 hours to 3,504.

Volato Market Share and NPS

Sources: Argus, Internal Customer Surveys

During that time, its market share in the light/very light jet category increased from 0.7% to 2.9%.

Volato’s share increased in seven of the eight quarters.

Volato ranked as the 21st-largest North American fractional/charter operator through June.

The 2021 start-up offers several innovations in its fractional and jet card program, including flight credits for flexible flyers and a rebate to fractional owners for activity on their tail.