Volato Group sells operator GC Aviation for $2 million

Ten months after exiting its fractional and charter programs, Volato Group has sold GC Aviation.

GC Aviation held the Part 135 certificate, Volato used to conduct its flight operations in addition to aircraft management.

The undisclosed buyer paid $2 million in cash, according to the announcement.

Volato bought Gulf Coast Aviation in March 2022.

At the time, the Houston-based company had five aircraft under management, including a King Air 360 and a Hawker 750, available for charter.

Per the latest FAA records, there was one Cirrus SR-22.

It holds Argus Platinum and IS-BAO Stage 3 ratings.

Per the announcement:

‘The sale reflects Volato’s ongoing strategy to sharpen its focus on scalable, technology-enhanced solutions while offloading direct operational responsibility for flight services to third-party operators. Proceeds from the transaction will be directed toward growth initiatives within Mission Control, Vaunt, and the company’s expanding aircraft trading and leasing platforms.’

Volato CEO Matt Liotta said,  “Divesting GC Aviation was a deliberate move to concentrate on the areas of our business with the highest growth potential and strongest returns.”

He added, “It allows us to deploy capital more effectively, strengthen our balance sheet, and accelerate platform-driven opportunities that expand value for our customers and shareholders.”

Volato recently announced a non-binding letter of intent to combine with M2I, a critical mineral company.

It has also been expanding its Vaunt empty-leg program, adding new operators.

A deal announced last week brings back six HondaJets that were formerly part of its fractional program.