Volato Group, Inc., a prominent private aviation company in the United States, has unveiled three Key Performance Indicators to offer stakeholders deeper insights into the company’s aircraft utilization and overall customer engagement. The KPIs include Total Flight Hours, Light Jet Market Share, and Net Promoter Score.
In the fiscal year 2023, Volato’s unwavering commitment to customer satisfaction resulted in an outstanding Net Promoter Score of 86 or higher. This achievement, coupled with the company’s ability to expand its share of the light jet market, highlights Volato’s increased market penetration.
Mark Heinen, Volato’s Chief Financial Officer, emphasized the company’s dedication to operational excellence and positive contribution margin growth from flight operations. He stated, “In 2023 alone, Volato expanded its HondaJet fleet by 50% and boosted its light jet market share to nearly 3%. This underscores Volato’s commitment to providing high-quality customer experiences while achieving substantial growth.”
The quarterly performance data, sourced from ARGUS, showcases the progression of Volato’s key metrics:
Quarter: Total Flight Hours | Light Jet Market Share | NPS
- Q1 2022: 813 | 0.7% | N/A
- Q2 2022: 1,199 | 0.9% | N/A
- Q3 2022: 1,307 | 1.1% | N/A
- Q4 2022: 1,712 | 1.3% | N/A
- Q1 2023: 2,103 | 1.7% | 86
- Q2 2023: 2,919 | 2.5% | 89
- Q3 2023: 2,747 | 2.5% | 90
- Q4 2023: 3,504 | 2.9% | 88
The Net Promoter Score (NPS) is internally sourced from Volato, based on customer surveys conducted post-flight, starting from Q1 2023.
Volato believes that the disclosure of additional KPIs will offer stakeholders clearer insights into aircraft utilization and overall customer engagement as the company expands its operational footprint. Mr. Heinen stressed the importance of transparency, stating, “As a newly public company within a rapidly growing industry, we believe transparency is imperative. By providing stakeholders with clear insights into utilization and customer engagement metrics, we are further aligning transparency standards in the private aviation sector with those found in the commercial airline industry. More importantly, greater disclosure also means that our stakeholders can make better-informed decisions, which is foundational for customer trust and satisfaction.”
Volato commits to providing updated information on the above KPIs every quarter, ensuring ongoing transparency and informed decision-making for its stakeholders.
About Volato
Volato is a full-service private aviation company providing modern ways to enjoy luxury private jets through innovative, efficient, and sustainable solutions. Volato provides a fresh approach to fractional ownership, aircraft management, jet card, deposit, and charter programs. Volato’s fractional programs uniquely offer flexible hours and a revenue share for owners in a 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.