Volato's Vaunt platform achieved its first cash-positive month in March and has reached $500,000 in annual recurring revenue. This highlights Vaunt's progress in addressing the longstanding issue of empty leg flights, where 30 per cent 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," says Vaunt president Nicholas Cooper.

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 subscribers providing a world-class Net Promoter Score of 95 last quarter.

"Volato is also benefiting from Vaunt through being a source of sales leads," adds Cooper. "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.