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Business Air News Bulletin
The monthly news publication for aviation professionals.

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Fractional Ownership

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Sumar offers skills aplenty to Volato
The net effective rate for owners under the Volato scheme can be as low as $1,950 per hour plus fuel after netting out the owner's revenue share and other owner discounts. The HondaJet Elite S is an effective aircraft.

Atlanta, Georgia-based fractional startup Volato, which says it aims to decouple private jet ownership from use so that members may profit from flights they don't take, has strengthened its leadership team with new chief pilot hire, Azim Sumar. Sumar is the most experienced HondaJet chief pilot in the industry and has over 24 years of aviation experience in various fields from airline customer service, airline cargo, airline ticketing, aircraft flight test and delivery, flight training and simulator training.

Most recently, Azim served as the chief pilot for rival HondaJet fractional ownership provider Jet It.

“I was initially drawn to Volato's leadership and vision,” states Sumar. “Engaging further, I learned its programme was truly built on delivering the best experience for owners, which it understood could only be delivered by ensuring its pilots are happy. I'm excited to join Volato and curate a team of owner-centric pilots by providing them a positive work environment, strong remuneration and a balanced lifestyle.”

“We've set out to offer pilots the best work/life balance in the industry alongside top pay and benefits,” adds Matt Liotta, CEO and co-founder of Volato. “Since our launch, we've focused on making our pilots as happy as possible as we recognise the correlation between that and our customer service to clients. From scheduling and 401k matches to PTO and pay, we don't believe pilots will find a better opportunity on the market. Azim will play a big part in continuing to evolve our offering to our most important assets while we continue to scale.”

For those seeking a unique fractional ownership model where they can make money on every live flight hour, including charter flights, Volato provides all the benefits of owning a private jet without the stress of managing upkeep and logistics. Shares in its five-year programme can be purchased in 1/16, 1/8, one quarter and one half sizes through to a full HondaJet Elite S aircraft.

Owner pricing for flights is currently $3,200 per hour for live legs, plus fuel at cost. The net effective rate for owners can be as low as $1,950 per hour plus fuel after netting out the owner's revenue share and other owner discounts. Depending on the size of the fractional ownership share relative to hours flown, owners may even fly at zero dollars per flight hour.

The HondaJet Elite, the focus of the Volato experience and fleet, features several upgrades that expand operational capability; customers can fly up to 120 nm (138 mi) further than the previous model or take an additional passenger during their typical mission. Volato is the only fleet operator of the HondaJet to fully upgrade the cabins with wifi, a full galley, executive leather chairs, in-built surround sound system and more. Volato manages furnishings, maintenance, fees and flight operations: owners simply schedule flights through the Volato app, show up and relax. Onboard Volato fleet amenities include a fresh-brew coffee system, a dual-divided ice drawer, generous storage for catering, and snacks and beverages. The jet's fully enclosed lavatory includes a brightly lit vanity mirror, dual mini skylights, a vessel sink with running water, a leather-appointed seat lid and roomy cabinets for personal-hygiene items.

Volato launched its fractional ownership service in early September and has since sold out its current inventory of HondaJets, with limited fractional ownership shares available on upcoming first quarter 2022 aircraft deliveries.

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