Volato completes Alignment Engine merger, founder steps down as CEO

Volato has completed its merger with Alignment Engine, Inc., combining the Atlanta-based aviation platform with an AI infrastructure company. According to Private Jet Card Comparisons, the merger was completed last week.

The merged entity will continue to trade publicly under Volato's ticker, SOAR, on the New York Stock Exchange. Private Jet Card Comparisons reported that Alignment Engine was valued at approximately $500 million in the transaction. The merger marks Volato's entry into AI infrastructure, pairing Alignment Engine's powered industrial campus in Ohio with Volato's publicly traded platform.

Volato founder Matt Liotta is stepping down as CEO in connection with the merger. Chris Ensey, who has led Alignment Engine as CEO since early 2023 and was an early investor in the company, takes over as chief executive of the merged entity.

Volato's aviation business

Volato launched in 2021 with a HondaJet fractional ownership program. It then added jet cards and the Vaunt empty-leg membership offering. The company operated fractional and jet card programs until September 2024, when it exited those businesses via a strategic agreement with FlyExclusive, enabling its fractional and jet card customers to transition to the Raleigh, North Carolina-based operator.

Volato's current aviation products include an agentic aviation offering and Vaunt. FlyExclusive holds an option to purchase the Vaunt empty-leg program from Volato, which the two companies recently extended. FlyExclusive has already bought other aviation-related assets from Volato.

Neither party has disclosed whether the merger affects the terms of the option agreement or FlyExclusive's rights to its aviation-related assets, nor has Volato said whether the shift in leadership affects the future of its remaining aviation business.

What the merger means for Volato customers

For Volato customers holding positions in fractional ownership or jet card memberships that transitioned to FlyExclusive in September 2024, Private Jet Card Comparisons does not report whether the change in Volato's ownership or leadership creates any further implications. The reporting does not say whether Volato's new focus on AI infrastructure affects the company's commitment to its remaining aviation products or the terms under which FlyExclusive continues to operate the transitioned customer base.