A private jet firm is using Honda's $5 million private jets to offer the wealthy a luxurious experience for less than the price of using larger planes

A Volato HondaJet Elite.Thomas Pallini/Insider

• Volato is a private aviation company using the HondaJet as its flagship aircraft.
• Wealthy flyers can purchase an ownership stake in the aircraft and pay an hourly rate of $3,200 plus fuel.

When Americans think of the name "Honda," chances are most of them aren't thinking about a private jet. But one company is looking to change that.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Volato is a fractional ownership company looking to rival the likes of NetJets and Flexjet by offering private flyers a luxurious compromise entry-level jet offering with the HondaJet.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Honda's aircraft division hasn't become as pervasive in the American market as its cars have. But Volato says the HondaJet's capabilities and features make it perfect for flights with four passengers are less, given that private flyers often find themselves on planes with more seats than needed.

A Volato HondaJet Elite.      Thomas Pallini/Insider

"Volato is taking a fresh approach to private aviation by specifically focusing on the most ideal way to handle four-passenger or less missions," Matt Liotta, Volato's chief executive officer, told Insider.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Insider met up with Volato for a demonstration flight on one of its flagship HondaJets. Here's what it was like.

A Volato HondaJet Elite.      Thomas Pallini/Insider

The HondaJet, which first debuted in 2014, has a distinct look that sets it apart from rivals. Most notably, its engines are attached directly to the wings rather than the fuselage.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Looks aside, Honda developed a pretty capable aircraft for a light jet. The upgraded HondaJet Elite, for example, has a range of 1,437 nautical miles that makes more than half of the Lower 48 accessible from New York on a non-stop flight.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Source: Honda Aircraft Company

And the wing-mounted GE Honda Aero Engines HF120 turbofan engines enable a top true airspeed of 422 knots and a top altitude of 43,000 feet.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Source: Honda Aircraft Company

On the inside, Volato's HondaJets are configured to seat only four passengers, despite the aircraft having a maximum capacity for six passengers in the passenger cabin.

A Volato HondaJet Elite.      Thomas Pallini/Insider

All four seats are leather club seats that can recline and swivel, with an abundance of legroom in between the seats given the low-density configuration.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Each seat has access to the tables that extend from the cabin sidewalls. The additional space in between the seats means the tables are similarly large.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Storage compartments are also located in the sidewall for smaller items like devices and laptops.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Instead of an extra seat in the cabin, Volato opted for a service galley complete with a coffee maker, ice bin, and multiple snack draws.

A Volato HondaJet Elite.      Thomas Pallini/Insider

"As far I understand, we are the biggest taker of galleys there is for HondaJet," Liotta said, adding that snacks and drinks have been specifically curated beyond the standard offering.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Opposite the galley and connected to the boarding door is a small tray table to store drinks or other items.

A Volato HondaJet Elite.      Thomas Pallini/Insider

But when the situation calls for it, the HondaJet can fit as many as six people. One of the flights prior to our demonstration saw a passenger occupy the co-pilot seat and another sit on the cushioned seat in the lavatory.

A Volato HondaJet Elite.      Thomas Pallini/Insider

The lavatory is separated from the cabin through pocket doors for a private experience.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Not all light jets offer a lavatory, let alone one separated from the rest of the cabin. Inside is the standard toilet and a sink.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Rival companies have opted for smaller jets like the single-engine Cirrus Vision Jet. But Liotta says the HondaJet lets the jet-set crowd have an incredibly capable airplane with all the bells and whistles for a modest price.

A Volato HondaJet Elite.      Thomas Pallini/Insider

"We don't think we should be getting into the business of competing on price, we're here to compete on service and we think that we provide the best value in the industry," Liotta said.

A Volato HondaJet Elite.      Thomas Pallini/Insider

For those missions that require more than four seats, Liotta said that Volato isn't opposed to working with other operators to meet those needs. But another option is just sending two HondaJets, with a total of eight seats, to perform a given mission.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Volato is banking that private flyers that routinely fly with four passengers are less will see the value in the HondaJet. "It makes more sense for them to have our [HondaJet] offering for the majority of their needs, as opposed to getting into a jet that works for everything but does a poor job most of them," Liotta said.

A Volato HondaJet Elite.      Thomas Pallini/Insider

As a fractional-ownership company first and foremost, private flyers have the option to buy an ownership stake in the aircraft, offering tax and usage benefits. Owners use the aircraft at a fixed rate plus the fuel cost and then earn revenue back when the plane is chartered out to on-demand customers.

A Volato HondaJet Elite.      Thomas Pallini/Insider

For owners, a fee of $3,200 per hour of flight time is accessed from "wheels up to wheels down," with no charges for taxi time, and fuel fees are directly passed along with no markup from Volato. Owners will pay the same hourly rate regardless of their ownership stake but those that have a larger stake will receive a higher revenue share from when the aircraft is chartered.

A Volato HondaJet Elite.      Thomas Pallini/Insider

"In our case, we don't limit your usage based on your share size," Liotta said of what differentiates Volato from competitors. "Your share size determines the cost of your uses and so, if you buy a bigger share than you use, we charter that jet out for the rest of its usages and provide a revenue share on that."

A Volato HondaJet Elite.      Thomas Pallini/Insider

Volato projects that owners will see 800 hours of charter revenue hours. Liotta doesn't guarantee that number of revenue hours to owners but believes it to be a conservative estimate given the average number of charter flight hours a typical HondaJet sees.

A Volato HondaJet Elite.      Thomas Pallini/Insider

It's a program that Liotta describes as decoupling "usage from ownership" where owners that have a higher stake in the aircraft receive a greater share of the charter receive even if they don't fly often.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Liotta also believes that this HondaJet ownership model is somewhat recession-proof, should the US see an economic downturn. "When recessions happen, generally the smaller the jet the better off you are than the bigger the jet," Liotta said.

A Volato HondaJet Elite.      Thomas Pallini/Insider

After the brief tour, we climbed into the aircraft for a quick demonstration flight around Long Island. The time from startup to taxi out was just a few minutes and we were on our way to the runway.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Having the engines detached from the fuselage made the cabin incredibly quiet as we prepared for takeoff. Liotta even turned on the Bongiovi Acoustics sound system to show how well the system could work without having to compete with noisy engines.

A Volato HondaJet Elite.      Thomas Pallini/Insider

And just a few minutes later, with only one pilot at the controls, we were airborne. Volato flights operate with two pilots by default but the jet only requires one pilot to fly it.

A Volato HondaJet Elite.      Thomas Pallini/Insider

The flight was incredibly smooth and the HondaJet handled Long Island skies well, despite its small stature. And even with three full-size passengers in the cabin, there was still plenty of room to maneuver.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Panels at each seat also let passengers control aspects of the plane including the temperature and the volume of the audio system.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Volato is planning to convert its HondaJet Elites to the HondaJet Elite S models, a process that requires a software upgrade to allow it to carry more weight and a change to the nose-wheel steering system to help pilots better maneuver the aircraft.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Additional weight allowance would allow for Volato to carry more fuel that could be needed when the plane is fully loaded with bags and passengers. But the HondaJet already has an impressive baggage hold that can store 380 pounds of luggage.

A Volato HondaJet Elite.      Thomas Pallini/Insider

Upgrading to the HondaJet Elite S is part of Volato's plan to offer the most luxurious and outfitted HondaJet on the market that is still ultimately cheaper than a larger aircraft with the same, if not fewer, amenities.

A Volato HondaJet Elite.      Thomas Pallini/Insider

"What we're really trying to do here is provide that same level of high-end experience that you would see on bigger planes on bigger operators, but do so with the HondaJet at a significant reduction in cost," Liotta said.

A Volato HondaJet Elite.      Thomas Pallini/Insider