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FlyExclusive Enters Aircraft Management Agreement With Volato Group
2024-09-03 22:51
10:51 AM EDT, 09/03/2024 (MT Newswires) -- FlyExclusive (FLYX) said Tuesday it entered into an aircraft management services agreement with HondaJet operator Volato Group (SOAR).
The agreement will add immediately to flyExclusive's top and bottom lines, according to a company statement. Volato revenue, excluding aircraft sales, expected to transfer to flyExclusive is about $75 million.
FlyExclusive will manage flight operations, sales, and expenses for Volato's fleet of 13 fractionalized, eight leased and four managed aircraft with plans to transfer the aircraft to flyExclusive's certificate in the coming months in coordination with the Federal Aviation Administration.
FlyExclusive said it will also manage flights for Volato's 184 fractional and 265 block customers.
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