A Form 10-Q—a quarterly financial report submitted to the Securities and Exchange Commission— filed by Volato on August 14 showed the company spiraling into the red, recording a net loss of $34.3 million for the six months ending June 30. The same form stated Volato has a negative working capital of $18.2 million and an accumulated deficit of $98 million as of June 30. Net cash used in operating activities for the six months was $7.4 million.

“These above matters raise substantial doubt about the company’s ability to continue as a going concern,” the form stated. “During the next [12] months, the company intends to fund its operations through a combination of issuing debt and equity as well as the sale of aircraft at a premium to cost.”

Additionally, the form stated that management believes that its current cash position will allow Volato to continue as a going concern and to fund its operations for at least one year from the date the financials were made available.

The filing also stated that on June 18 Volato received a notice from the New York Stock Exchange (NYSE) advising the company that it is not in compliance with NYSE American continued listing standards, requiring it to have stockholders’ equity of at least $2 million if it has reported losses from continuing operations and/or net losses in two of its three most recent fiscal years.

Section 1003(a)(ii) of the Company Guide also requires a company to have stockholders’ equity of at least $4 million if it has reported losses from continuing operations and/or net losses in three of its four most recent fiscal years.

Volato stated in the form that the company has submitted a plan to the NYSE American LLC on July 18, outlining actions the company will take to regain compliance by December 18, 2025.

“The notice does not affect [Volato’s] ongoing business operations or its reporting requirements with the United States Securities and Exchange Commission,” the form stated.

‘Rightsizing’

In a company letter from Volato CEO Matt Liotta obtained by FLYING, Liotta explained the decision to “rightsize” the company’s fleet and crew by removing five leased planes and furloughing some of its pilots.

“This is not a decision we take lightly, and it is the first time we have taken such a step,” Liotta stated in the letter. “However, I want to emphasize that this decision is based on our need to align with both the timing of new HondaJet deliveries, in which we have full confidence, and the pace of demand growth.”

In that statement, Liotta referenced Volato’s 2023 purchase of 25 HondaJets from Honda Aircraft company. These jets were slated to be delivered by 2025, but Liotta said delayed deliveries of the new aircraft and lower than expected sales have put financial pressure on Volato.

He also said demand for Volato’s services, while up, aren’t as high as anticipated.

“This situation requires us to make some difficult but necessary adjustments,” Liotta said.

He went on to say that Volato had been working closely with Honda to increase the availability and utilization of Volato’s fleet.

“…We’ve made substantial progress that allows us to fly individual planes more efficiently, meaning we can meet our flight hour needs with fewer planes,” Liotta said. “This not only strengthens our financial position but also benefits our fractional customers by delivering more revenue share to them—a true win-win.”

After attempts to renegotiate Volato’s more expensive plane leases, Liotta said that the company was unable to reach acceptable terms and decided to end those leases. By flying more hours per plane, he said the company aims to enhance its profitability and attract more interest in its fractional ownership program.

“This decision is about managing our business wisely and positioning Volato for long-term success,” Liotta said. “By rightsizing our fleet and crew now, we’re setting ourselves up to navigate these challenges effectively and prepare for future growth. Thank you for your continued dedication and resilience. We will get through this together and come out stronger on the other side.”

Volato lost over $17 million last quarter and currently has $5.8 million in cash. Volato did not immediately respond to FLYING’s request for comment.

Jet It Déjà Vu

Readers may recall FLYING parent company Firecrown owner and CEO Craig Fuller’s article last summer detailing the demise of Jet It, another fractional ownership charter jet operator. 

“Jet It generated revenue through several major sources— fractional-owner hourly fees; monthly maintenance fees; up-front selling of aircraft fractional positions; and off-network charter flights,” Fuller, who was also a Jet It fractional owner, wrote in the article analyzing its business model.

The flaws in this model emerged when Jet It—-contractually obligated to guarantee fractional owners aircraft availability within 72 hours advance notice—was required to go into the charter market and purchase aircraft time at the charter market’s clearing rate. Fuller stated that these rates were often five times the rate that the fractional owner was paying Jet It for the same service.

Additionally, a key driver of Jet It’s cash flow was in selling fractional aircraft positions—especially during the start of the pandemic.

“In the early days of COVID, as interest around personal aviation exploded, so did cash flow opportunities for Jet It,”  Fuller wrote. “In fact, it is likely that the company relied too heavily on this source of cash to fund its operations.”

Fuller wrote that in 2021, and 2022 supply chain issues started to impact Honda Aircraft Company, and Jet It could not source as many airplanes to sell to members. This caused cash flow from new fractional sales to dry up, severely impacting Jet It’s business model.

Jet It closed down on May 24, 2023.

The post Volato to Drop 5 Leased Jets, Furlough Pilots appeared first on FLYING Magazine.

Today’s Top Pick is a 2019 Honda HA-420 HondaJet Elite.

The HA-420 HondaJet was among the most anticipated aircraft in history in part because, by the time it received FAA certification in 2016, it had been in the works for decades. Many people familiar with Honda’s vast automotive operations had caught wind of the seemingly odd aviation project underway far behind the scenes.

When the jet finally emerged, it was clear that it incorporated a number of true innovations, starting with its over-the-wing-mounted engines. This new setup helped to isolate the engines from the cabin, reducing noise and vibration while also giving passengers more space but removing the invasive mounting structure from the fuselage. The result is a cabin that is larger than many would expect.

The HondaJet’s cruising speed also drew a lot of attention. While using power similar to that of competing jets, the Honda could cruise at 420 ktas, which was higher than its closest rivals. 

This 2019 HondaJet Elite has 4,120 hours on the airframe and 3,524 hours on each of its GE Honda HF120 engines since new. The aircraft is under Honda’s Flight Ready P2 maintenance program as well as the CAMP maintenance tracking system. The engines have logged 2,520 cycles, and the jet has performed 2,913 landings.

The panel features Garmin G3000 integrated avionics with a GFC 700-enhanced automatic flight control system, GWX 70 weather radar, radar altimeter, TCAS I, TAWS Class B, synthetic vision, Garmin Flight Stream 510, Jeppesen Chartview, and Cockpit Iridium.

Pilots looking for a small, single-pilot jet with innovative features and performance that matches or surpasses many larger models should consider this 2019 HA-420 HondaJet, which is available for $3.2 million on AircraftForSale.

You can arrange financing of the aircraft through FLYING Finance. For more information, email info@flyingfinance.com.

• FLYING Magazine: Honda Aircraft Unveils Certified Pre-Owned Program for HondaJets
• FLYING Magazine: Volato Signs HondaJet Maintenance Agreement with Banyan Air Service
• FLYING Magazine:  HondaJet Close to EASA Certification on the Elite II
• FLYING Magazine: Honda Aircraft Reveals Certification Plan for HondaJet 2600 Concept
• Plane & Pilot: We Fly It First: HondaJet Arrives!
• Plane & Pilot: NBAA 2019: Honda Aircraft Customizes HondaJet for Tom Cruise
• The Aviation Consumer: NBAA 2022 Standouts: Refurbs, HondaJet

The post This 2019 Honda HA-420 HondaJet Elite Is a Feature-Packed ‘AircraftForSale’ Top Pick appeared first on FLYING Magazine.

Since Citation Excel deliveries began in 1998, Textron Aviation (née Cessna Aircraft) has delivered more than 1,100 units, making it the firm’s most successful jet in its 96-year history. Based on the XLS series, the newest iteration of the model, the Ascend, offers a number of features designed to extend the winning streak, including the more fuel efficient Pratt & Whitney Canada PW545D turbofans, an upgrade from the Collins Pro Line 21 to Garmin G5000 avionics with standard auto-throttles, increased payload, and more range. Scheduled maintenance interval shave been stretched to 800 flight hours or 18 months, whichever comes first.

The Ascend has new and larger flight deck and cabin windows, upgraded passenger seats, and improved acoustical insulation to soak up sound. The 8-inch dropped aisle has been filled in to create a flat floor. However, the dropped aisle remains an option for customers needing more center cabin headroom.

The Honeywell RE100 now is approved for unattended operation, freeing both flight crewmembers to focus on essential preflight chores. A host of other upgrades endows the Ascend with levels of comfort, quiet, convenience, and connectivity on par with Textron Aviation’s larger super-midsize aircraft. First deliveries are set to begin in 2025.

—With reporting by Fred George

Dassault Falcon 10X

The growth of the Dassault Aviation infrastructure at the Bordeaux-Mérignac Airport (LFBD) in western France can be attributed to the success of the Rafale fighter series, and the Falcon 7X and 8X, as well as the recent introduction of the 6X—and its upcoming big brother, the 10X. Dassault began parts assembly in 2022 to pre-pare for the final assembly of the first test articles underway this year. The all-composite wing is being built at a dedicated facility in Biarritz.

The 10X, announced in 2021, has had a long slow buildup, fitting for a jet that will be the largest built by Dassault and introduce the largest cabin of any jet purpose-built for the business aviation sector. That cabin features a new design path for the company, breaking out of the traditional mold with bold colorways and seating that looks more like that of a penthouse living room than an aluminum tube. It has already received several nods in international design competitions, including the Red Dot award from the Design Society of the U.K.

With a range of 7,500 nm at Mach 0.85—and a top speed of Mach 0.925—the 10X is powered by a pair of bespoke Rolls-Royce Pearl 10X powerplants rated at 18,000 pounds of thrust apiece and able to run on 100 percent sustainable aviation fuel (SAF). On the flight deck, the 10X gives pilots the FalconEye combined vision system, as well as carrying over the digital flight control system (DFCS) made popular on the 7X. As the Dassault pilots finish up flight tests on the 6X and move to the first 10X test platform later this year, perhaps, we’re certainly eyeing them with envy.

Dassault Falcon 6X

Long before pilots will get their hands on the DFCS sticks of the 10X, however, Dassault’s Falcon 6X will entice them to the flight deck. Now type certified under the European Union Aviation Safety Agency (EASA) and the FAA, the 6X leads the next generation of Falcons with its dual Pratt& Whitney PW812D engines. Rated at up to 14,000 pounds thrust, the powerplants propel the wide-body, long-range 6X to a range of up to 5,500 nm at Mach 0.80 and a max cruise speed of Mach 0.925.

The 6X preserves the relative short-field performance of its predecessors, with the capability to operate out of 3,000-foot runways with a partial fuel load.

The balanced field length for takeoff is 5,480 feet under ISA conditions at sea level and at the maximum takeoff weight of 77,460 pounds.

• READ MORE: We Fly: Dassault Falcon 6X

The 6X showed off its graceful, powerful ability to maneuver at the Paris Air Show in late June at the hands of pilots Philippe Duchateau and Fabrice Valette. Visitors to the display could sit on the flight deck and witness the four large-format displays, two tablets mounted on either pilot side, and roundly shaped pedestals from which to stabilize while entering data into the flight management system. It’s a well-thought-out cockpit design, with pilot-friendly touches in and around the instrument panel, such as EFB mounts. We watched passersby stroll in front of the nose through the head-up display with the FalconEye cutting through the gray and bringing everything ahead of the airplane into sharp focus.

Gulfstream G700

The race to certify the next long-range mount looked neck-in-neck between the Falcon 6X and the Gulfstream G700. With its paperwork filed and everything over but the shouting, the bird from Savannah, Georgia, first announced in 2019 is expected to begin deliveries in the first quarter of 2024.

The G700, which takes its strength from the Rolls-Royce Pearl 700 powerplants, can carry up to 19 passengers—and sleep up to 13—in as many as five flexible living spaces. The 7,500 nm range (at Mach 0.85) puts it squarely in the ultralong category, routinely cruising at 45,000 to 49,000 feet. In the conclusion of the flight test program, the G700 continued to set city-pair speed records. It flew into the European Business Aviation Conference and Expo (EBACE) and Paris on up to 30 percent SAF and marked a memorable flight from Savannah to Tokyo on SAF at an average speed of Mach 0.89.

And what’s in it for the pilot? A familiar Symmetry Flight Deck up front, paired with Gulfstream’s Enhanced Flight System, that you’d find on theG500 and G600, making the G700 a straightforward transition for aviators stepping up.

Gulfstream G800

The higher model number ascribed to the Gulfstream G800—sister ship to the G700—refers to the increase in range customers can expect when the platform debuts in a couple of years. Yes, topping the charts at 8,000 nm, the G800 achieves this on the same wing as the G700 by shortening the length of the fuselage and reducing the number of living areas to four.

The G800, currently in the heart of its flight test program, achieves the target distance powered by the same Rolls-Royce Pearl 700 powerplants, at 18,250 pounds of thrust each, at Mach 0.85. If you want to go faster—and sacrifice 1,000 nm of range—push it up to Mach 0.90. Or just get there fast by taking a shorter segment at Mach 0.925.

Gulfstream’s flight test crew flew the first test article with a finished interior—used for proving those components in worldwide environments and operating conditions—to the Paris Air Show.

A second test aircraft first flew on July 15 on a blend of 30 percent SAF and reached a top speed of Mach 0.935 during the mission.

Sitting up front, the familiar Symmetry Flight Deck offers pilots a total of 10 display screens up front—four large-format ones across the front left to right, and six smaller touchscreen displays that can be configured in nearly endless ways depending on the phase of flight, pilot preference, or during abnormal and emergency operations.

The predictive landing performance system works in the background to help prevent runway overruns—though the G800 is projected to mark a6,000 takeoff distance at its max gross weight of 105,600 pounds.

Gulfstream G400

Close kin to the G500 and G600, Gulfstream’s next answer to the large-cabin midsize question, the G400, takes its lineage from its bigger siblings. The OEM stretched the fuselage to 36 feet, 4 inches and leveraged Symmetry Flight Deck technology from the larger models to create an advanced jet boasting a best-in-class cabin cross section with up to 2.5 living areas, with 100 percent fresh air that is refreshed every two minutes.

Those fortunate passengers (up to 12, sleeping as many as five) will enjoy the G400’s projected 4,200 nm range at Mach 0.85 settings—that’s Geneva to Minneapolis—and a top speed of Mach 0.90 and a maximum cruise altitude of 51,000 feet. And that’s done more efficiently than on previous Gulfstream models. The combination of the advanced Pratt &Whitney PW812GA powerplants, wing with improved aerodynamics, and avionics management should realize up to 30 percent in greater fuel efficiency as compared to a G450 on a hypothetical 3,000 nm journey with eight passengers at Mach 0.85.

The G400 is in development alongside the G800, with its first test aircraft delivered internally and poised for a first flight later this year. Gulfstream predicts the airplane’s entry into service will be in 2025.

Bombardier Global 8000

The gauntlet thrown down in the ultralong-range market appears to be a spitting match between the Gulfstream G800 and Bombardier’s latest entrant in the Global series, the 8000. Yes, that 8000 translates directly into the expected range of the new luxury plat-form—but the Montreal-based OEM wants to not just equal but win on speed. Try Mach 0.94, according to the manufacturer’s latest claims.

And it wants to achieve that speed without sacrificing passenger comfort. Bombardier has developed what it calls the Smooth Flex Wing to blend control and agility with the ability to ride the bumps well. Like its competitors from Savannah, the 8000’s max altitude is 51,000 feet, and it will maintain a cabin altitude of 2,900 feet at FL410. Up front, the Bombardier Vision flight deck on the Global 7500 will assist pilots in managing both short and long segments. Four large-format displays sit between two EFB mounts, supplemented by the head-up display available for both the left and right seat. A fully loaded Global 8000—at 114,850 pounds—is anticipated to need just 5,760 feet for takeoff, with a landing distance of 2,237 feet.

HondaJet 2600/Echelon

In a follow-up to the introduction of the HondaJet 2600 concept—recently rebranded as the HondaJet Echelon— at the National Business Aviation Association’s (NBAA) convention & exhibition in October 2021, Honda Aircraft has made its next move in bringing the new model into its lineup. In June, the OEM revealed that development continues on the project, with its official “commercialization” or plan to pursue type certification on the clean-sheet light jet.

Intended to be a midsize jet in alight jet’s body, the HondaJet Echelon is aimed at a 2,625 nm range (four passengers and one pilot, NBA AIFR) and 450 ktas maximum cruise speed—but at 20 percent better fuel efficiency than other light jets and a 40 percent improvement over midsize models.

FAA type certification should come in 2028, with entry into service as a single-pilot-operated platform. Up to 11 people can be seated on board, with the option for nine or 10 passengers depending on crew requirements. Supply partners include Garmin for the G3000 flightdeck, Williams International and itsFJ44-4C engines, Spirit AeroSystems providing the fuselage, and Aernnova for aerostructures. Fabrication of the first airframe is underway as HondaAircraft completes initial engineering on the program.

Beechcraft Denali

Textron Aviation marked an important rite of passage in any airplane’s development program—its first appearance at EAA AirVenture in late July. The Wichita, Kansas-based OEM flew its third test article to the show in Oshkosh, Wisconsin—called “P2” in company parlance to designate the conforming airplane with a full interior for that phase of the flight test campaign.

There’s a lot you can understand much more immediately than you can with a mock-up. First, the air-plane feels like it stands roughly the same height as its Beechcraft brethren, the King Air 200 series. Once onboard, the ergonomics of the Garmin G3000 integrated flight deck harken to the Cessna CJ series but with the familiarity of the Brand G avionics. The powerplant installation includes FADEC and an auto-throttle—necessary for Garmin Autoland certification.

On the business end, the clean-sheet GE Catalyst engine is proving worthy of the investment in it, according to test pilots. As of May, the program included 26 engines built, with more than 5,400 hours of testing—figures that increase every day. The McCauley prop on the front is helping the combination to achieve even greater fuel efficiency than originally projected. The Denali will be certified with flight into known icing (FIKI) capability, completing what Textron Aviation calls “a jet-like experience.” Still, certification isn’t expected until 2025, recognizing the significant work remaining to bring anew turboprop engine to market.

Extra 330SX

The first production Extra 330SX may not be taking to the skies until next year, but the new single-canopy, aerobatic airplane is already spoken for. At a presentation at EAA AirVenture, company president Marcus Extra introduced Bob Freeman as the first customer.

The Extra 330SX improves upon the 330SC with better cooling up front on the 315 hp Lycoming and a Garmin G3X Touch flight display. The sporty airplane features high-performance ailerons, with 60 percent larger horns and modified wing tips, along with a reduced fuselage length. The combination leads to its stunning roll rate, which the company measures by mounting a Go-Pro in the airplane, taking it out for a series of rolls, then returning that video to the engineering team to calculate the rate.

Other improvements in the cockpit are proposed to deliver greater pilot comfort, including a taller stick with reduced side-to-side travel to better accommodate larger pilots—like Extra, who flew the airplane earlier this summer in a com-petition in Germany for the first time. The first deliveries will take place in2024, with the company ramping up its production space in DeLand, Florida, to meet the challenge.

Van’s RV-15

Van’s Aircraft debuted its first high-wing model at AirVenture 2022. Once more it flew the prototype to Oshkosh for the air show this summer with a few updates made to the still mostly mysterious kit in progress. Most take a bit of sleuthing to determine, but they include changes to the stabilator and anti-servo tab to improve stability and stick forces.

The ailerons have also been reshaped slightly, with hinge points moved, and changes made to the internal control system gearing influence stick throw. Van’s test pilots already report improved stick forces and control harmony.

The prototype stills runs from a fuel tank located in the cabin. Van’s plans to build new wings that will mount the fuel tanks, reported at 60 gallons total, internally, following legacy high-wing designs with this increase in pilot/passenger protection in the event of an accident.

With the wing moving back about 4 inches, Van’s will see benefits to load carrying and CG—and allow for the use of lighter powerplants than the current Lycoming IO-390, though it’s expected to be the core engine.

The airframe features unique, damped landing gear intended to smooth out vagaries in both pilot and runway surface. Van’s is sticking to its previously announced plan* to begin taking deposits 12 to 18 months after the airplane’s debut. It is likely to need at least six more months to get the design pinned down and prepare to build kits.

—With reporting by Marc Cook

*Since this article went to press, Van’s Aircraft has filed for Chapter 11 bankruptcy protection and the timeline for the RV-15 is unknown.

Tecnam P-Mentor

Tecnam Aircraft debuted its P-Mentor at EAA AirVenture 2023, though the airplane is already approved under EASA CS 23, the equivalent to FAA Part 23 certification. The P-Mentor, featured and test flown in FLYING’s Issue 939, should see the agency’s nod in early2024, according to the company.

• READ MORE: We Fly: Tecnam P-Mentor

The P-Mentor is a two-seat aircraft designed to be a primary training platform, equipped with Garmin G3XTouch and GTN 650Xi avionics and boasting almost un-heard-of fuel economy at 3.7 gallons per hour.

This low consumption translates to low operating costs for owners and renters—and means lower carbon dioxide emissions. The P-Mentor’s fuel consumption results in up to nine operating hours between refuelings.

Powered by a FADEC-equipped Rotax 912iSC3 powerplant, the heavier-than-an-LSA P-Mentor shows graceful handling characteristics and docile slow flight and stall behavior. Takeoff ground roll at less than max gross was around 1,000 feet, with a landing roll less than that on a grass strip at the company’s headquarters in Capua, Italy. The comfortable cockpit can also accept a Garmin GFC 500 autopilot for serious cross-country and IFR operations. Several flight schools in the U.S. signed orders for the trainer at AirVenture.

—With reporting by Amy Wilder

Elixir Aircraft

Elixir Aircraft, based in La Rochelle, France, has also posted a sales streak for the training version of its aircraft, with a deal closed in June on more than 100 units—50 on option—with Sierra Charlie Aviation in Scottsdale, Arizona. The agreement caps a growing order book for the OEM as it brings three versions of its single-engine airplane to market.

Most of the models—intended for flight training—feature the 100 hp Rotax 912iS powerplant with a full glass cockpit. Sierra Charlie Aviation plans to integrate the airplanes into its Aviation Career Program, an ab initio course focused on identifying varying learning styles and steering those pilot applicants toward success. The composite airframe is built through the One-Shot manufacturing process to reduce parts count.

Elixir delivered five of its 912iS versions in 2022 for a total of more than 10 made so far by press time. The company was founded in 2015 by a trio of engineers who sought to reduce costs in flight training by lowering parts count and increasing efficiency in training aircraft. The first model achieved initial EASA CS 23 type certification in 2020, with FAA validation pending.

This article first appeared in the September 2023/Issue 941 of FLYING’s print edition.

The post What’s Next in New Aircraft appeared first on FLYING Magazine.

According to Volato, the agreement covers “full-scale maintenance services” for its HondaJets along with the sublease of a Volato hangar at Northeast Florida Regional Airport (KSGJ) in St. Augustine. Banyan will initially be subleasing the space for three years and service integration is already underway. Volto noted the move also establishes a new authorized HondaJet service facility in Florida.

“We are thrilled to partner with Banyan, increasing maintenance capacity for our expanding HondaJet fleet in the Southeast right in our own backyard,” said Volato co-founder and CEO Matt Liotta. “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.”

Volato, based in Atlanta, grew its HondaJet fleet by 50 percent last year, finishing 2023 with 24 aircraft. The company, which calls itself the largest HondaJet operator in the United States, also has orders for 22 additional HondaJets with 10 scheduled for delivery in 2024. In addition, it has signed a letter of intent for HondaJet’s Echelon transcontinental light jet, which is still in development.

• READ MORE: Volato HondaJet Fleet Expands by 50 Percent in 2023

Volato officially went public late last year, with its stock trading on the New York Stock Exchange beginning December 4. The company offers fractional ownership, aircraft management, jet card, deposit, and charter programs. 

An FAA and EASA-approved repair station, Banyan Air Service is based at Fort Lauderdale Executive Airport (KFXE) in Florida. It provides services including heavy maintenance, interior modifications, turbine engine service, structural repairs, avionics services, aircraft parts, and aircraft sales and management. The company has been in operation for 40 years.

The post Volato Signs HondaJet Maintenance Agreement with Banyan Air Service appeared first on FLYING Magazine.

I can honestly say our stories captured millions of reads from pilots and aviation enthusiasts over the last 12 months, both for our digital-only news and enterprise reporting, as well as the print features we brought online to share with the world.

Being the stickler for detail I am, I waited til the last second ticked over on the year before diving in to see what scored highest—and here are my select 7 of those stories and why I found them compelling.

Boeing Bird of Prey Shrouded in Secrecy Still

Jason McDowell, a mild-mannered private pilot from the Midwest, consistently entertains and intrigues with both his New Owner online column, Air Compare features in print, and this series on History’s Unique Aircraft. A jet named after a Klingon spacecraft from Star Trek and given the designation “YF-118G”, Boeing’s Bird of Prey incorporated dramatic design inside and out. Why is it still a mystery? It has less to do with Boeing—and more so with the giant aerospace OEM it acquired in the 90s, McDonnell-Douglas. 

Downed WWII Lancaster Bomber Raised from Sea Floor

Our readers love their warbirds—and they clearly love a good rescue story. Who doesn’t? Especially when the survivor in question is a rare Avro Lancaster Ed603—the heavy bomber the Brits used to defend their shores and stop Hitler in World War II. Eight decades later, the airplane’s remains and those of several crewmembers have been recovered in a poignant story by Kimberly Johnson that clearly struck a chord with readers.

Why Jet It Failed

From our unique position as the world’s largest aviation media organization—a title we took in 2023 with several key acquisitions—we have an insider’s look at much of industry. And sometimes that goes a step further, because we are deeply involved in flying and operating aircraft ourselves. When fractional operator Jet It collapsed in May, FLYING Media Group owner Craig Fuller brought his behind the scenes look at the cause of the collapse to FLYING’s readers as one of the HondaJet share owners affected by the fractional’s failure.

Collings Foundation Grounds Air Tour for WWII Aircraft

More living history made our headlines—with repercussions following the horrific accident taking B-17 Flying Fortress Nine-Oh-Nine on October 2, 2022. Technical editor Meg Godlewski went in depth when the Collings Foundation took the needed step to reduce its exposure to risk by halting its famous Wings of Freedom tours of WWII aircraft and other flying legends. Instead, it has adapted its mission to bring the aircraft to a wider range of school groups with more robust education and preservation.

NTSB Releases Fiery HondaJet Runway Excursion Details

Unfortunately, many of you seek FLYINGmag.com for its reporting on accidents—looking to learn beyond the reports of the National Transportation Safety Board and understand why they occurred. Our goal? To help you mitigate the causes of these occurrences in your own flying. While several high-profile events captured our readers’ attention—and continue to do so in Peter Garrison’s Aftermath analysis as well—runway excursions by business jets remain a stubborn accident profile that the industry seeks to reduce.

A Yak 18T’s Escape from Ukraine

An exclusive feature from our print edition also racked up significant views in just the few weeks since it debuted online—FLYING contributor Jay Selman revealed the inspiring story of a special Yak 18T and the complex maneuvering  to bring it out of Ukraine and into flying status in the U.S. Both restoration and rescue mission, this article drew a lot of attention—as do many of our aircraft features, including We Fly reports on new aircraft, and Restoration Nation features on bringing historic airplanes back to life.

SpaceX Starship Grounded Indefinitely by the FAA

And the top story—in terms of total time viewers spent reading it? Elon Musk’s SpaceX Starship has clearly caught our imagination in its democratization of space. Jack Daleo’s reporting on the subject drew folks to our site (thank you) and kept them reading all year long. We’re fascinated by space—and the dawn of a new era of exploration is upon us that more regular people will be able to take part in. 

That’s just one reason why I’m excited to see what 2024 brings us, in terms of stories.

And for me? I vow to #flymorein24! See you in the skies.

The post My Top <i>FLYING</i> Stories for 2023 appeared first on FLYING Magazine.

The company, which operates primarily HondaJets, took delivery of eight aircraft this year, three of which came on board this month. According to Volato, its growth strategy involves both acquiring new aircraft from Honda Aircraft Company and contracting with owners to manage their airplanes. Between new deliveries and management contracts, the company’s fleet now totals 24 aircraft.

“Volato’s measured and thoughtful approach to fleet expansion is critical to achieving our long-term plan for sustainable growth,” said Volato co-founder and CEO Matt Liotta. “We have been creative and judicious in acquiring HondaJets through the open market while continuing to receive new aircraft from our HondaJet factory order. The recent deliveries allow us to expand our capacity at a pivotal time in Volato’s growth and increase our capacity to support our growing customer base.”

Volato currently has orders for 22 additional HondaJet Elite IIs with 10 scheduled for delivery in 2024. The company noted that it has also signed a letter of intent with HondaJet for its new Echelon transcontinental light jet design. Currently in development, the HondaJet Echelon was introduced as the HondaJet 2600 at the 2021 National Business Aviation Association’s Business Aviation Conference & Expo with its official name announced at this year’s show.

• READ MORE: Volato Closes Deal for 25 HondaJets

About Volato

Volato offers fractional ownership, aircraft management, jet card, deposit, and charter programs. The company recently went public via a special purpose acquisition company (SPAC) merger with Proof Acquisition Corp I (PACI). Volato’s stock began trading on the New York Stock Exchange on December 4.

The post Volato HondaJet Fleet Expands by 50 Percent in 2023 appeared first on FLYING Magazine.

Volato, which offers fractional ownership, aircraft management, jet card, deposit, and charter programs, announced its plans to become a publicly traded company last August. PACI shareholders approved the move at a special shareholders meeting on November 28. Volato’s common stock and warrants are set to begin trading on the New York Stock Exchange on December 4.

“We believe that this transaction provides not only the capital to accelerate our fleet growth and strategy, but also a level of transparency and institutional support that should make our product even more attractive to new fractional owners and private fliers,” said Volato CEO and co-founder Matt Liotta. “After founding the company in 2021 and quickly ramping to nearly $100 million of revenue in 2022, we are now positioned to build on this momentum as a public company.”

PACI also announced the closing of $12 million in private investments. Combined with funding from an earlier Series A funding round and the conversion of Volato convertible debt, the company reports that it has raised over $60 million in capital. The money is expected to be used to fund business operations and grow Volato’s fleet, which is made up primarily of HondaJets.

• READ MORE: Volato Closes Deal for 25 HondaJets

“This transaction and recent new investments come at an ideal time for Volato, as we see strong demand for our product in the market,” said Volato chief commercial officer and co-founder Nicholas Cooper. “The private aviation industry has undergone a secular expansion in recent years due to changes in customer behavior along with greater customer awareness of the options and solutions available for private travel.”

The post Volato Completes PACI Merger, Prepares to Go Public appeared first on FLYING Magazine.

The promise? To take the light jet category up a notch, and attempt to translate a “midsize jet experience” to a smaller platform—one capable of transcontinental U.S. trips. In doing so, Honda Aircraft anticipates an increase in mission flexibility for owner-pilots while keeping operating costs—and fuel burn—in check. The proposed design may attain up to 20 percent increased fuel efficiency over other light jets and up to 40 percent over midsize jets with which it expects to compete.

In the cabin, the midsize feel would continue, with “a holistic focus on the cabin experience encompassing space, comfort, and productivity,” according to the company. 

“The HondaJet Echelon was born to create a new category that transcends the travel experience on conventional light jets,” said Hideto Yamasaki, president and CEO of Honda Aircraft Company, in a preview statement. “Expanding mobility skyward has been Honda’s long-lasting dream, and the HondaJet Echelon marks the exciting next chapter while showcasing a classic Honda story of a product that creates new value for people.” 

Common Type Pursuit

One key element to the new model, designated the HA-480 within the HondaJet family, is Honda Aircraft’s pursuit of a common type rating to the Elite II’s basis, the HA-420. The bid will be made possible by the use of the Garmin G3000 flight deck architecture, along with flight control response and feel, and single-pilot operation in parallel. On the production line, which will run alongside that of the Elite II, Honda Aircraft is targeting as much parts commonality as possible given the change in fuselage and cross section.

Yes, the Echelon will be a bigger jet, however, with an estimated wingspan of 56 feet, length of 57 feet, and tail height of 16 feet, plus a maximum takeoff weight of 17,500 pounds.

Amod Kelkar, chief commercial officer for Honda Aircraft, has been named the program manager on the HondaJet Echelon, a project he has been deeply involved with since joining the company as vice president of customer support in 2021. In an interview with FLYING, Kelkar indicated that the Echelon makes a play for changing the blend of customers for the HondaJet series. “We have, effectively, three types of customers,” said Kelkar.

“The first one is the owner-operator who are also pilots, so they have their own aircraft, they fly their own aircraft, using it for personal [trips] or for business. Their utilization is in the zone of 150 hours per year. Then we have…corporate customers, not necessarily corporations. Those have a bit higher utilization, I would say, around 250 to 400 hours a year per aircraft, and they fly strictly for B2B type of visits. And then the third segment is in terms of utilization is the highest, but in terms of numbers is the smallest, is the charter and fractional ownership,” which files roughly 1,400 to 1,500 hours per year.

While 85 percent of current customers are in the first two segments, the Echelon is deemed likely to appeal to the Part 135 and Part 91K operators that can leverage its range to suit New York to Florida or Caribbean destinations with seats full.

HondaJet Echelon Milestones

While the name marks an important step in the process to bringing a new aircraft into the product line, other key milestones have recently been achieved by the OEM.

First, the company installed the first structural test rig in the fourth quarter of 2021, not long after the program was officially announced. Since then, the manufacturer has exited the concept phase and competed its preliminary design review, which fixes in place critical markers within the program. 

Also, Honda Aircraft celebrated the official power-on ceremony for the Echelon’s advanced systems integration test facility (ASITF) at the company’s Greensboro, North Carolina, headquarters on August 30, 2023. 

Honda Aircraft targets the next aircraft level critical design review in the summer of 2024, with “select long lead fabrication already in progress,” according to a statement from the company. The OEM will produce the Echelon within the company’s current footprint at Greensboro, with early build processes to begin in 2024. 

First flight is projected for 2026, with type certification targeted for 2028.

Sustainability Efforts

Honda Aircraft also has taken its place in the race to more efficiency with its participation in the 2023 NBAA-BACE Sustainability Pledge, “demonstrating a commitment to make NBAA-BACE a more eco-friendly event,” according to the company. “In addition, Honda Aircraft Company is utilizing the Sustainable Aviation Fuel Book and Claim [SAFC] Program for its ferry flights to and from NBAA-BACE to promote the deployment of SAF and support the industry’s commitment to carbon neutrality.”

HondaJet Specs

Engines: Williams International FJ44-4C
Avionics: Garmin G3000
Configuration: 1 crew + 10 pax or 2 crew + 9 pax
NBAA IFR Range: (1 crew + 4 pax)* 2,625 nm
Maximum Cruise Speed*: 450 ktas
Maximum Cruise Altitude*: FL470

The post Honda Reveals Next Expression of the HondaJet Series with Echelon appeared first on FLYING Magazine.

Under the new program, each pre-owned aircraft will undergo “discerning selection, a rigorous inspection and expert maintenance processes to ensure it meets Honda’s high standards for quality, safety, and performance before receiving the CPO designation,” the company said. The program also offers a range of services to support the fleet.

• READ MORE: Jet It Tells Owners To Find New Home for Aircraft

The new CPO business appears to be a continuation of Honda’s efforts to assist aircraft owners affected by the shutdown last month of Jet It, a major fractional operator of HondaJets. 

While Honda has not responded to inquiries about possible connections between the problems with Jet It and the CPO operation, the company said the new program “also offers end-to-end services.” Previously Honda offered free support to Jet It customers, including pilot services and parking for up to 90 days at its headquarters in Greensboro, North Carolina.

• READ MORE: Honda Aircraft Offers Free Logistics Help to Jet It Customers

Shifting attention to the used market also makes sense for Honda now that its earliest aircraft have been in service for more than seven years. The HondaJet global fleet totals more than 230 aircraft with more than 185,000 flight hours, Honda said.

The company said CPO aircraft have to pass a 208-point inspection by Honda-trained technicians in its network of authorized service facilities. Aircraft that qualify for the CPO program will also be upgraded to “the highest performance level available for each model, based on applicable service bulletins,” the company said.

• READ MORE: Honda Aircraft Reveals Certification Plan for HondaJet 2600 Concept

“As demand for the HondaJet continues to rise, pre-owned aircraft have become an increasingly important entry point into the HondaJet community,” said Amod Kelkar, chief commercial officer of Honda Aircraft. “The CPO program extends our commitment to excellence to all aspects of the long-term ownership experience and ensures that all HondaJet owners, both current and future, will have the best ownership experience and peace of mind, regardless of their position in the ownership journey.”

The post Honda Aircraft Unveils Certified Pre-Owned Program for HondaJets appeared first on FLYING Magazine.

When Jet It ceased operations, aircraft were stranded all over the country. Owners, who at one time relied on the company to manage the airplane, suddenly found themselves learning the logistics of maintaining a HondaJet HA-420, along with the potential pitfalls.

Mechanics Lien

Unpaid vendors are often the first sign a company is in financial distress. In the world of aircraft maintenance, unpaid vendors have options. A maintenance shop, for example, can attach a mechanic’s lien to an aircraft for an unpaid bill.

• READ MORE: Why Jet It Failed

Owners of an aircraft with a lien against it should consult an attorney in the state where it is located and reach out to the maintenance facility to either make a payment or try to negotiate a lower amount.

Putting the Pieces Together

In the case of Jet It owners, they are now thrust into a new position of managing the maintenance of an aircraft that had been the company’s responsibility. 

Former Jet It owners likely are confronting numerous questions, according to Mark Thibault, founder and chief technical officer of Crew Chiefs Corp., which represents clients during inspections for aircraft purchases and sales. Those questions include:

• What is the status of the aircraft? Is it properly hangared? What is the flying/airworthiness status?
• Are the aircraft programs, warranties, subscriptions, and insurances maintained and current?
• Are the logs and records secure, co-located with aircraft, and complete?
• What funds are needed to get each aircraft back online, including any unpaid ramp, MRO, and handling fees, as well as those for pilot recruiting?

In order to quickly get their aircraft back online, according to Thibault, owners will need:

• Permissions for all electronic maintenance tracking systems.
• Comprehensive records review, both physical and electronic.
• A review of the Jet It agreement to assess if compliance was satisfied.
• An assessment, such as a condition survey, or pre-buy inspection of the exterior and interior of the aircraft.
• A pending inspection timeline, with associated due lists, and service bulletin and airworthiness directive compliance.
• An observation flight.

Honda Aircraft Co. has also offered resources for former Jet It owners who have questions or need assistance.

HondaJet Maintenance Cadence

One of the questions circulating in the industry is, “I thought HondaJets were new; there cannot be much maintenance to perform.” Well, yes and no. Like everything else with aircraft maintenance, the answer is “it depends.”

• READ MORE: Honda Aircraft Offers Free Logistics Help to Jet It Customers

The HondaJet is on a phase maintenance program, which means maintenance is not scheduled by the calendar month but instead by the Hobbs meter, according to Anthony Agosta, the HondaJet maintenance manager at Florida-based Banyan Air Service . Banyan serves as the Southeast Service Center for the HondaJet.

Banyan currently has two former Jet It aircraft—one at its Naples location and the other at its main facility in Fort Lauderdale. 

One of the key components of the HondaJet maintenance program is managing the Life Limited Parts (LLP). It is critical that whichever unit of measure is used to calculate life is documented, recorded, and reviewed. LLPs typically include powerplants and landing gear but could be other parts on other aircraft models.

• READ MORE: Jet It Tells Owners To Find New Home for Aircraft

Honda Aircraft establishes 150 flight hours as the increment of measure for maintenance. The cadence is 150-, 300-, 600-hour inspections, and so on. The first major maintenance comes at the 600-hour mark, takes five weeks, and costs hundreds of thousands of dollars.

In the scenario facing the former Jet It fractional owners, the group of eight or nine would typically elect a spokesperson and give them power of attorney, allowing them to negotiate with maintenance providers, among others.

Owners have options when choosing maintenance programs for their HondaJets. The P3 Precision FlightReady airframe service program represents the highest level of service, covering standard replacement parts and labor. The P2 Performance program serves as the middle tier of service and covers parts only. Each plan excludes damage, so you are on your own if you suffer a bird strike or taxi into the hangar. Of course, owners can always maintain their aircraft and pay the maintenance facility for the time and material as they go.

Because General Electric is a first-tier OEM on the HondaJet, it has a separate engine program—the Engine Maintenance Care program (EMC) covers parts, while the EMC2 program covers parts and labor. Again, this excludes damage, so be careful flying through asteroid fields.

• READ MORE: What’s Next for Jet It Fractional Owners

Back to Birth

Aircraft maintenance begins on day one. Flight crew, maintainers, and management companies begin logging flights, incidents, and maintenance actions for the airframe and each engine. These records are part of the aircraft logs, and for LLPs, you need “back to birth,” or everything that happened since it left the factory. 

One of the first actions displaced Jet It members need to do is consult their logbooks. 

Bluetail, a company that specializes in back-to-birth aircraft records for business and general aviation and also a Jet It vendor, has stepped up as a potential resource.

On June 7, Scottsdale, Arizona-based Bluetail offered former Jet It HondaJet owners free and secure access to their aircraft’s digital logbooks and related records in the Bluetail app for a period of 60 days, according to company cofounder Stuart Illian. 

This offer will allow the owners to protect their aircraft’s value while continuing to operate, which may include additional scheduled and unscheduled maintenance events, Illian said. Bluetail’s service is free for those providing proof of ownership.

The company will also provide the owners (or designated users) with any necessary training or product support. Additionally, should the owners decide to continue their Bluetail subscription, the software firm will waive the onboarding fees typically charged for the transition, according to Illian.

Situations like this highlight the value of having an aircraft’s operational and maintenance records digitized and hosted in a cloud-based network, and how especially critical it is for aircraft managed and maintained by a third-party provider.

The post Jet It Fallout Leaves Owners Shouldering Aircraft Maintenance appeared first on FLYING Magazine.