FlyExclusive to buy Volato aircraft sales, Vaunt empty-leg app

FlyExclusive is set to acquire Volato Group’s aircraft sales division, private aviation software, and Vaunt empty-leg app.

The first stage would be acquiring Volato’s aircraft sales division.

According to the announcement, the deal is expected to generate up to $8 million in profits for FlyExclusive in the fourth quarter of 2025.

Purchase price is $2.1 million in stock.

FlyExclusive also acquires the rights to buy Vaunt’s empty-leg and flight management software, Mission Control.

Last year, the two private jet flight providers agreed to offer a transition for Volato jet card and fractional customers to FlyExclusive.

‘Unique Solution’

FlyExclusive Chairman and CEO Jim Segrave said, “We entered into our original agreement with Volato to provide a unique solution to Volato’s customers while maintaining an option to acquire the entire company. That, however, would have meant assuming debt and obligations that didn’t align with our transformation and growth strategy.”

Segrave continued:

‘This structured transaction delivers far greater value, at an attractive multiple on our invested capital, plus the ability for FlyExclusive to expand our services in the software sector by bringing exciting high-growth technology platforms in Vaunt and Mission Control fully under our control. The Vaunt platform generates attractive cash flows through its membership program, and Mission Control streamlines Part 135 aviation scheduling and operations to further enhance our industry-leading client experience. FlyExclusive intends to continue developing both platforms and offer the state-of-the-art-scheduling system to all operators in the space. This agreement is a disciplined, accretive outcome that strengthens our vertical integration and positions us for continued long-term growth and value creation.’

According to the release, the Kinston, North Carolina-based private jet flight provider will issue $2.1 million of FLYX stock immediately to Volato, to be distributed directly to Volato shareholders as a dividend, in exchange for Volato’s aircraft sales division.

It also secures the right to acquire Vaunt and Mission Control, along with other IP, for an additional $2 million of FLYX stock.

Volato CEO Matt Liotta said, “This transaction delivers clear, incremental value for Volato shareholders while maintaining full alignment with our planned merger with M2i.”

He added, “By structuring it this way, we protect the integrity of the M2i deal while adding direct participation in FlyExclusive’s growth through FLYX stock. It’s a clean, accretive outcome that strengthens both companies and rewards both shareholder bases.”

In August, FlyExclusive extended an agreement to acquire the aviation division of Jet.AI.

The extended agreement runs through the end of October.

Last month, FlyExclusive was added to the Russell 2000.

The company has been seeking to return to profitability following its 2023 SPAC merger IPO.

Volato’s Final Chapter?

Volato had previously announced a merger with M2i.

From its 2021 launch, it experienced rapid growth.

It became one of the biggest fractional and charter private jet operators in the U.S.

In 2023, it was ranked as the 16th-largest operator.

It was selling fractional shares and jet cards on a fleet of HondaJet very light jets.

It was also adding Gulfstream G280 super-midsize jets, which it is now selling.

Last year, it quit as an operator and pivoted to its Vaunt empty-leg membership program and B2B software.

FlyExclusive ended 2024 as the 5th-largest North American operator based on charter and fractional flight hours.

In July, Volato sold its charter operating certificate to an undisclosed buyer for $2 million.

It is also working through a number of lawsuits from former jet card members, fractional ownership clients, and vendors.

It recently said it was on track to reduce debt by $50 million.

Both Jet.AI and Volato were also part of the 2023 SPAC-based IPOs of private jet flight providers.