September 19, 2024
Keith Rabin, who moved from CFO to president at Volato last September, has resigned.
Volato President Keith Rabin has resigned.
CEO and Co-founder Matt Liotta assumes Rabin’s responsibilities.
Rabin joined Volato as CFO in early 2022.
He was promoted to president in September 2023.
“Keith has been invaluable in getting us to where we are today. His dedication and leadership have significantly contributed to Volato’s growth and success. We are deeply grateful for his contributions and wish him the best in his future endeavors,” Liotta tells Private Jet Card Comparisons.
Earlier in the week, Volato announced plans to scale its aircraft management business.
It appointed industry veteran Mark Ozenick as president of that division.
Liotta continues, “In conjunction with Keith’s departure, Volato is implementing a broader initiative to align our organization with our long-term vision and ambitious goals. We recently announced the appointment of industry veteran Mark Ozenick to lead our aircraft management business, marking a significant step in Volato’s strategic growth plan.”
He adds, “Mark’s appointment is just the beginning of several planned changes aimed at enhancing our operational capabilities and expanding our service offerings…His leadership will help us to better manage our aircraft fleet, optimize our operations, and deliver exceptional value to our clients.”
Volato last week published KPIs for Q2 2024.
Rabin’s resignation was revealed in an SEC filing yesterday.
According to the 8-K:
On July 19, 2024, Keith Rabin, President of the Company, notified the Company of his intent to resign as president effective July 19, 2024 for personal reasons. Mr. Rabin’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s financials, operations, policies, or practices. Matthew Liotta, the Company’s Chief Executive Officer, has assumed the responsibilities of the Company’s president, effective July 19, 2024.
Rabin served in similar positions for JetSuite from 2008 to 2017 before exiting the industry and joining Volato
Liotta, in his statement, also teased more changes.
“Our clients and stakeholders can expect more exciting announcements in the near future as we continue to implement strategic initiatives to enhance our services and operational efficiency. Our next major initiative will be an enhancement to our fractional program, which we believe is supported by the growth of our floating fleet and improvement in our operational KPIs,” the CEO says.
He adds, “This enhancement is designed to provide even greater value and flexibility to our clients, and we believe the market will greatly appreciate the benefits it offers. This initiative reflects our dedication to getting back to our roots and reinforcing the foundational customer-centered values that have always defined Volato.”
The 2021 start-up has quickly grown to the 16th-largest charter/fractional provider in the U.S.
It operates the world’s largest commercial HondaJet fleet.
Volato will also be receiving its first Gulfstream G280s this year.
It completed a SPAC IPO in December.
(Editor’s note: This story was updated with comments from Volato after publication)
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