After dropping its jet card and fractional programs last year Volato says it is paying down debt and has turned to profits.
Volato Group, Inc. expects to be profitable in the second quarter and for the full year.
It posted a small net profit in Q1 2025.
The one-time fast-growing fractional and jet card operator was the 16th-largest U.S. charter and fractional operator in 2023.
It dropped to the 20th spot last year after suspending its flight operations.
At the time, it was focused on the HondaJet.
It offered customers several options to transfer to FlyExclusive.
However, it was also hit with a number of lawsuits.
The lawsuits were primarily filed by fractional customers who had paid deposits for aircraft that were never delivered, as well as jet card clients seeking refunds for unused portions of their deposits.
There were also lawsuits from vendors who had not been paid.
Volato has continued to operate its Vaunt empty leg program.
It has sought to carve a B2B niche in the tech space with its Mission Control software.
According to a press release, Voltao “expects to achieve second quarter and full-year profitability in 2025.”
The improved results are “driven by continued financial execution and momentum across its core platform businesses.”
It continued, “In the first quarter, the company reported $25.5 million in revenue, $500,000 in net income from continuing operations, and a $23.4 million reduction in total liabilities—including a substantial reduction in senior lender debt.”
Volato said, “Based on current assumptions, the company expects Q2 revenue between $24 million and $26 million, and net income of $2 million to $3 million.”
The company’s aircraft trading program generated nearly all of the Q1 revenues, totaling $25 million.
According to the release, “The program is part of a broader strategy to monetize high-demand aircraft and, over time, place them with third-party charter operators in capital-efficient structures designed to support recurring income.”
The company had initially been ordered G280s from Gulfstream Aerospace for its then-fractional program.
CEO Matt Liotta said, “We set clear goals to reduce debt, generate cash, and move the business toward profitability—and that’s exactly what we’ve done.
Liotta added, “Now we’re continuing that strategy into Q2 with the same focus and pace. The platform is working, and we’re putting it to work in smart, scalable ways.”
CFO Mark Heinen noted, “We continue to make strides in strengthening our financial position in the second quarter.”
He added, “We’ve already reduced liabilities by $13 million so far this quarter and remain on track to hit our $15 million Q2 target.”
Heinen said, “We’ve also reduced working capital tied up in aircraft inventory from $12 million at the end of Q1 to just $3 million today.”
Volato said it now has over 110 aircraft through its Vaunt empty-leg platform.
It recently introduced the ability to book commercial flights and hotels alongside private flights.
The company said it “continues to pursue discounted settlements as a necessary part of its plan to support lender recoveries and strengthen our financial position and is evaluating a targeted equity raise to support near-term execution while preserving flexibility and limiting dilution.”
It also now allows jet card members to use funds for on-demand charter services via dynamic pricing.
READ: Volato faces jet card, fractional lawsuits as it seeks to move forward
Find the perfect solution for your private aviation needs
Save Time. Buy Confidently.
Receive an apples-to-apples comparison of programs that meet your needs from more than 500 jet card and fractional options covering 65 points of differentiation and over 40,000 data points.
