As Volato plans to exit aviation selling assets to FlyExclusive and merge its public company with M2i it provided a business update.
Volato Group, which faced a rash of lawsuits after it exited its fractional ownership and jet card programs in 2024, says total debt will decline “nearly 80% year-over-year” by the end of this month.
The company has been selling various aviation assets to FlyExclusive.
It still owns and operates the Vaunt empty-leg program.
Vaunt’s annual recurring revenue doubled to approximately $3.0 million in Q1 2026, according to the release.
Q4 2025 saw 21% sequential revenue increase.
Q1 2026 is on track for a 14% quarter-to-quarter increase.
Volato plans to merge its non-aviation businesses and the public company with M2i Global.
M2i plans to establish a critical mineral reserve, “creating a resilient supply chain that addresses the global shortage of essential minerals and metals.”
A special meeting of stockholders is scheduled for April 20, 2026.
Volato CEO Matt Liotta said, “Doubling Vaunt’s (annual recurring revenue) while reducing debt by nearly 80% reflects both the scalability of our marketplace and the discipline of our operating model.”
Liotta said, “We’ve focused on building a capital-efficient platform that can grow without relying on heavy balance sheet investment, and these results show that approach is working.”
He continued, “As we move toward the stockholder vote, we’re doing so from a position of significantly improved financial strength and with clear momentum in our core business.”
Volato said the Vaunt app has over 297,000 downloads.
There have been over 2,200 empty leg flights since its launch.
A review of Pacermonitor shows the five listed contract litigation cases are no longer active.
Before its troubles, the 2021 start-up quickly grew into one of the top 20 fractional/charter operators by 2024.
Volato went public in November 2023 via a SPAC IPO.
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