FlyExclusive continues to have an option to buy the Vaunt empty-leg program from Volato following the merger.
Atlanta-based Volato completed its proposed merger with Alignment Engine, Inc. last week.
The company first announced the deal late last month.
The merged entity will trade publicly under Volato’s ticker, SOAR, on the New York Stock Exchange.
Volato launched in 2021 with a HondaJet fractional ownership program.
It then added jet cards and empty leg membership, Vaunt.
Volato had operated fractional and jet card programs until September 2024.
It exited those businesses via a strategic agreement with FlyExclusive, enabling fractional and jet card customers to transition.
Its aviation products include an agentic aviation offering and Vaunt.
Volato and FlyExclusive recently extended an option for the Raleigh, North Carolina-based operator to buy the empty leg program.
It has already bought other aviation-related assets from Volato.
As part of the merger with Alignment Engine, Volato founder Matt Liotta is stepping down as CEO.
According to the announcement, “In connection with the merger, Alignment Engine was valued at approximately $500 million, and the merger marks the company’s entry into AI infrastructure, combining Alignment Engine’s powered industrial campus in Ohio with Volato’s publicly traded platform.”
The new CEO, Chris Ensey, has led Alignment Engine as CEO since early 2023.
He was an early investor in the company.
READ: Private Aviation M&A Deal Book
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