Volato Reports Fourth Quarter and Full Year 2023 Results
Volato Group, Inc. Class A (SOAR)
Company Research
Source: Business Wire
Improved Demand Mix Drove Higher Blended Yield and Aircraft Usage RevenueIncreased Size of Floating Fleet in FY 2023 to 24 HondaJet IIsExpect Delivery of 10-14 New Aircraft in FY 2024 ATLANTA--(BUSINESS WIRE)--Volato Group, Inc. (NYSE American: SOAR) (“Volato” or the “Company”), a leading private aviation company and the largest HondaJet operator in the United States, today announced results for the fourth quarter and full year ended December 31, 2023.Fourth Quarter 2023 Financial HighlightsTotal revenue was $31.5 millionAircraft sales revenue was $15.7 millionAircraft usage revenue was $11.6 millionManaged services revenue was $4.2 millionNet loss was $23.6 million, including the impact of a $13.4 million non-cash chargeAdjusted EBITDA1 was a loss of $8.1 millionFull Year 2023 Financial HighlightsTotal revenue was $73.3 millionAircraft sales revenue was $21.4 millionAircraft usage revenue was $37.8 millionManaged services revenue was $14.1 millionNet loss was $52.8 million, includ
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