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--Agreement expands Banyan's geographical footprint outside of Fort Lauderdale for the first time since its founding in 1979
--Creates new authorized HondaJet maintenance facility, a net benefit for growing HondaJet ecosystem
Volato Inc. (NYSE:SOAR) ("Volato"), a leading private aviation company and the largest HondaJet operator in the United States, today announced a strategic agreement with Banyan Air Service to expand HondaJet maintenance at Volato's primary operational base. As part of the agreement, Banyan has subleased Volato's hangar at the Northeast Florida Regional Airport in St. Augustine, Florida, to provide full-scale maintenance services for Volato's growing fleet of HondaJets.
The move is Banyan's first venture outside of Fort Lauderdale and marks the establishment of an additional authorized HondaJet service facility in the state of Florida. The integration of services commenced on January 2nd, with the initial sublease term set for three years. Additionally, Banyan has absorbed Volato's existing maintenance staff and plans to hire up to eight additional maintenance roles in 2024.
"We are thrilled to partner with Banyan, increasing maintenance capacity for our expanding HondaJet fleet in the Southeast right in our own backyard," said Matt Liotta, Co-Founder and CEO of Volato. "This initiative streamlines Volato's operations and will support our fleet expansion, delivering both operational efficiency and cost savings compared to our previous in-house maintenance."
"Expanding into St. Augustine represents a major milestone for Banyan, marking our first venture beyond Fort Lauderdale," said Don Campion, President of Banyan. "We look forward to increasing regional accessibility by creating an additional authorized HondaJet maintenance center for operators throughout the region."
Volato will continue to participate in HondaJet's maintenance program, now with the benefit of more convenient access to full-service maintenance facilities at its primary flight operations location.
Posted In: SOAR
