Volato Executive Overview
|Leadership||Matt Liotta, Founder and CEO|
Nicholas Cooper, CRO and co-Founder
Phil Michaels, Chief Strategy Officer
Azim Sumar, Chief Pilot
Tom Chapman, Vice President, Sales
|Fractional Ownership Aircraft||HondaJet, Pilatus PC-24|
|Related Products||On-demand charter|
|Related Companies||Gulf Coast Aviation Houston|
Volato was founded in 2021 by series entrepreneur Matt Liotta as a HondaJet very light jet program.
In January 2022, the company expanded added fractional shares in the Pilatus PC-24 light jet.
Volato decouples fractional ownership from usage. Owners buy a share but can fly as many or as few hours per year as they wish.
Owners also receive a charter rebate based on all hours flown on their tail, including their own flight hours.
This means flights are conducted under Part 135 rules, and hence mean a 7.5% Federal Excise Tax.
However, the formula means owners don’t have to worry about using a fixed number of flight hours on an annual basis.
According to Private Jet Card Comparisons exclusive FRACTIONAL AIRCRAFT OWNERSHIP COST CALCULATOR, the result is a low delta for your effective hourly rate if you underfly.
For example, a quarter shareowner who flies 100 hours per year instead of 200 hours effectively pays only $84 per hour more.
With traditional methodology, an owner who under flies annual hours would end up paying over $2,500 more on a per flight hour basis.