Vaunt, a platform for connecting travellers to private flights powered by HondaJet operator Volato, has achieved $1 million of annual recurring revenue (ARR) from paid subscriptions.

"We are pleased with the enthusiastic customer response to Vaunt, with nearly 45,000 registered users to date, helping us achieve the significant milestone of over $1 million in ARR, annual recurring revenue, in less than eight months since our commercial launch," says president Nicholas Cooper. "Our growing user base gives us a pipeline to acquire new subscribers as well as a critical mass of users for Vaunt to continue to share their Volato experiences with friends, family and their networks. Vaunt is an example of how we can take a modern approach and leverage technology to turn an industry challenge into an opportunity."

To date, Volato has filled over 450 empty leg flights with Vaunt members and their passengers, reducing the number of aircraft flying empty to be repositioned for their next flight. The platform invites more travellers to experience the benefits of private air travel, often for the first time.

Vaunt's subscription model currently charges an annual fee of $995, allowing users to apply for unlimited empty-leg flights offered through its app. Selected passengers are notified of the upcoming flight and can experience the full benefits of a one-way private flight for zero cost outside of the membership fee.