Three weeks after disclosing its troubling quarterly financial report, fractional ownership charter jet operator Volato (NYSE:SOAR) has entered into an aircraft management services agreement (AMS) with competitor flyExclusive (NYSE: FLYX).
In a SEC filing on Tuesday morning, the AMS includes an option for Volato to merge into a wholly owned subsidiary of flyExclusive. This option expires one year from the date of the agreement and allows an option for flyExclusive to purchase Volato during that time.
