FlyExclusive will pay $1.3 million in Class A common stock to gain the flight scheduling software as Vaunt remains with Volato for now.
Volato continued its cooperation with FlyExclusive by selling its Mission Control software to the leading charter and fractional operator.
“The agreement provides for consideration valued at approximately $1.3 million, payable in FLYX Class A common stock, subject to customary conditions,” per the announcement.
It said, “The assets relate to legacy intellectual property developed during earlier stages of the company’s technology initiatives and are not part of Volato’s current operating platforms.”
“Volato continues to evaluate opportunities to streamline its asset base and focus resources on strategic priorities, including the continued development of its core software platforms and the pending business combination with M2i Global, Inc.,” according to the press release.
Mission Control offers a variety of functionality valuable to charter operators.
That includes fast flight scheduling and optimization, an all-in-one Communication and CRM system supporting SMS, e-mail, robo-call, and recorded live calls with integrated flight management tools, crew scheduling and management, maintenance management, AI-powered pricing agents and booking automation, and data visualization, executive dashboards, analytics, and reporting for actionable insights.
Volato CEO Matt Liotta said, “From time to time, we identify opportunities to monetize assets that are not central to our current operating roadmap.”
He added, “This transaction reflects that disciplined approach while generating incremental value for our shareholders.”
Liotta also serves as chief business officer at FlyExclusive.
Volato has been divesting its aviation-related assets.
Last year, it sold its Part 135 charter certificate to an undisclosed party.
It also sold its aircraft finance division to FlyExclusive.
The sale of Volato’s empty-leg platform, Vaunt to FlyExclusive, is still pending.
The transaction was executed this month, according to the announcement.
FlyExclusive Chairman and CEO Jim Segrave highlighted Mission Control during its most recent earnings call.
He said the company will make the Mission Control software “available to all operators — and we intend to offer this access at no cost.”
Segrave said:
‘The value for us is not selling scheduling software. The value is improving network efficiency. If operators can securely share aircraft availability — without sharing or compromising customer identities or proprietary data — we believe the entire industry can find demand, source lift when needed, and execute their flights more efficiently. For FyExclusive, this means we can sell more flights and deliver a more optimized schedule with confidence, especially with the ability to source internally and externally more effectively. We also receive over 500 trip requests every day, over half of which we are unable to sell and source. This software will allow us to fill more of these requests, potentially generating substantial additional revenue.’
Segrave told Private Jet Card Comparisons there are no plans to create a marketplace like Vista’s XO or become a direct-to-consumer platform like FlyHouse.
Instead, he said it will be a tool to maximize utilization of its own fleet, much as airlines optimize load factor.
Most of the trip requests, Segrave said, are from the wholesale market, which he called “critical to us.”
He said the software will enable FlyExclusive to confirm more requests while also reducing the number of wholesale flights it has to cancel and refund when it can’t fulfill them due to mechanicals and other operational issues.
The company will show the beta version of the system at the NBAA Schedulers and Dispatchers convention in Cleveland later this month.
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