Flyte joins Vaunt operator network to monetise empty-leg flights
Fly Flyte, the regional air mobility subsidiary of Catheter Precision (NYSE American: VTAK), has joined the Vaunt operator network, a membership-based private aviation platform owned by Volato Group (NYSE American: SOAR). The partnership gives Flyte a new distribution channel for its growing fleet of Cirrus Vision Jets, with a focus on filling seats on repositioning flights that would otherwise operate without passengers.
Vaunt reported annual recurring revenue of $3.6 million, representing 162% year-on-year growth, according to Volato's disclosure in the release. The platform connects private aviation travellers with available flights across an expanding network of operators. Flyte said it will retain full control of its fleet, pricing, schedules and customer experience while selectively marketing available capacity through Vaunt's membership base.
The deal
Matt Liotta, chief executive of Volato Group, framed the rationale in straightforward operational terms. "Every repositioning flight represents a cost that has already been incurred," he said. "Vaunt creates another opportunity to recover those sunk costs by connecting travellers with flights that would otherwise operate without passengers." Flyte currently operates under its wholly owned subsidiary Ponderosa Air, an FAA-certified Part 135 air carrier, giving it the regulatory foundation to take on third-party charter bookings.
The release also announced a limited promotional offer: eligible Vaunt members may receive a $1,000 credit toward a qualifying Flyte charter booked directly with the operator. No deal value, revenue-share terms, or minimum booking commitments were disclosed.
Volato Group describes itself as an AI software company building operational tools for aviation businesses, with its products built on Parslee, an autonomous-work platform combining business context, shared memory and human-in-the-loop controls. The Vaunt platform sits alongside those software products as a demand-side marketplace.
Market context
The empty-leg marketplace is a well-established but fragmented corner of private aviation. A number of platforms, including PrivateFly, Victor and JetSmarter's successors, have attempted to create liquid secondary markets for underutilised aircraft capacity, with mixed results at scale. The core economics are attractive in theory: operators absorb fixed costs on repositioning legs regardless of passenger load, so any incremental revenue carries high margin. The practical challenge is matching supply and demand in near-real time across a geographically dispersed fleet.
What differentiates newer entrants such as Vaunt is the subscription or membership wrapper, which aims to build a captive, pre-qualified audience rather than relying on one-off price-comparison shoppers. Flyte's focus on short-haul regional routes using single-pilot light jets also targets a distinct segment from the large-cabin charter market, where repositioning distances and costs are higher.
The regional air mobility category more broadly has attracted significant venture and growth capital over the past several years, though many electric vertical take-off and landing (eVTOL) plays remain pre-revenue. Flyte's asset-backed, conventionally certificated approach positions it differently from eVTOL operators and may appeal to investors seeking nearer-term cash flow.
For Volato shareholders, adding Flyte expands the inventory available to Vaunt members without requiring capital outlay on additional aircraft. For Catheter Precision shareholders, the arrangement provides a distribution uplift at relatively low incremental cost. Neither company disclosed financial projections tied to the partnership.