- Launched in Q4 2023, Vaunt has reached $500K in annual recurring revenue, and 25,000+ registered users
Vaunt, a platform for connecting travelers to private flights, powered by Volato (NYSE American: SOAR), a leading private aviation company and the largest HondaJet operator in the United States, today announced it achieved its first cash-positive month in March, and has reached $500,000 in annual recurring revenue. This success highlights Vaunt's progress in addressing the longstanding issue of empty-leg flights, where 30% or more of private flights industrywide are repositioning flights with no passengers.
"The consumer enthusiasm and rapid growth we're experiencing with Vaunt validates our belief that we can use technology to make private aviation more accessible. This represents an opportunity to transform the industry. Our proprietary platform reduces inefficient empty-leg flights, lowering wastage while making private flights a reality for a wider audience," said Nicholas Cooper, President of Vaunt.
Since its launch in Q4 of 2023, Vaunt has attracted more than 25,000 registered users. The company has facilitated nearly 300 flights for over 650 passengers on otherwise empty repositioning flights, with Vaunt subscribers providing a world-class Net Promoter Score (NPS) of 95 last quarter.
“Volato is also benefiting from Vaunt through being a source of sales leads,” Cooper added. “We're seeing a subset of Vaunt subscribers enjoying the Volato customer-centric service so much that they are choosing to become jet card customers of our parent Volato, and vice versa. This synergy highlights the value and flexibility we offer, and we're excited to build on this momentum and continue expanding our user base and partnerships.”
Vaunt's subscription model currently charges an annual fee of $995, allowing users to apply for unlimited empty-leg flights. Selected passengers are notified and can experience the full benefits of private air travel at a significantly reduced cost.
Vaunt is currently available for download through the Apple App Store and Google Play. Members have a rewarding referral system to share Vaunt with their friends. More information on Vaunt is available at https://flyvaunt.com/faq/. Terms and conditions apply.
About Vaunt
Vaunt, wholly owned by Volato Group, is a new app tackling one of private aviation’s biggest challenges: empty-leg flights. Leveraging propriety software and a mobile consumer app, Vaunt makes it easy and affordable for spontaneous and frequent travelers to have a chance to fly private while addressing this empty-leg issue. All Vaunt flights are operated by its DOT/FAA- authorized air carrier affiliate or by an approved vendor air carrier.
About Volato
Volato (NYSE American: SOAR) is a leader in private aviation, redefining air travel through modern, efficient, and customer-designed solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit and charter programs, all powered by advanced, proprietary mission control technology. Volato's fractional programs uniquely offer flexible hours and a revenue share for owners across the world’s largest fleet of HondaJets, which are optimized for missions of up to four passengers. For more information visit www.flyvolato.com.
All Volato Part 135 charter flights are operated by its DOT/FAA-authorized air carrier subsidiary (G C Aviation, Inc. d/b/a Volato) or by an approved vendor air carrier.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240425300967/en/
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