Private aviation attorney James Butler reviews Volato’s unique approach to fractional ownership and highlights critical issues for buyers
(Last week, Volato announced it would add a Gulfstream G280 fractional program to the HondaJet program it launched last year. With 11 of the very light jets already in its fleet, 18 more on order, and a move into the super-midsize category, the start-up is quickly becoming a significant player. It’s also taking a different approach to how it structures owner contracts. Private aviation attorney James Butler offers his take below.)
A recent entry into the private aviation business is Volato, which professes to offer a unique investment structure that shares operating revenue, including third-party charter revenue, with its fractional owners. If this promised benefit materializes, it will be a laudable innovation.
Gulfstream G280 profile, including current pricing, manufacturing dates, cabin size and passenger capacity, range, speed, baggage space, fractional ownership and jet card options
Gulfstream G280 Facts
The G280 follows the G200, which began as the Astra Galaxy until Galaxy Aerospace’s 2001 acquisition by Gulfstream Aerospace when it was renamed.
The current model continues to be manufactured by what’s now known as Israel Aerospace Industries under license from Gulfstream. In 2019, there were reports of a possible follow-up model.
The G280 entered service in 2012 and there are currently 137 in service.
There are currently no national fractional share programs offering the G280, although there are specific jet cards featuring this super-midsize jet.
The price for a new G280 is $25 million with used G280s priced at around $12 million.
Production Start: 2012
Production Ends: In Production
G280 Related Models
The G280 followed up the G200 which was in production 1999 to 2011. It has the same cabin height and width as the G200 but extended the cabin length by eight feet. The G200 was originally the Astra Galaxy. After Gulfstream’s 2001 acquisition of Galaxy Aerospace in 2001, it was renamed as the G200.
As of May 2020, Amstat lists 137 G280s in service and 244 G200s
G280 Cabin Size and Passengers
Height: 6.25 feet
Width: 7.2 feet
Length: 32.25 feet
Seating Capacity: Up to 10 passengers
Full: 3,590 nautical miles
Four Passengers: 3,690 nautical miles
Maximum Cruise Speed: 482 mph
Normal Cruise Speed: 470 mph
Long-Range Cruise Speed: 459 mph
34 cubic feet interior; 120 cubic feet exterior (not accessible from the cabin)
Fractional Ownership – No
Dedicated Jet Card – Yes
Used G280s are listed starting at approximately $12 million, while used Gulfstream G200s are listed starting at $2.6 million