XML 54 R29.htm IDEA: XBRL DOCUMENT
v3.24.1

BUSINESS COMBINATION (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2023
Reverse Recapitalization [Abstract] |
Schedule Of Reverse Recapitalization | The following table reconciles the elements of the business combination to the consolidated statement of cash flows and the consolidated statement of changes in equity:
(In thousands) | Year Ended December 31, 2023
Cash - PACI trust and cash (net of redemptions) | $ | 19,081 |
Gross Proceeds | $ | 19,081 |
Less Transaction related expenses and other costs | (6,898) |
Less Net liabilities assumed from PACI | (1,722) |
Net proceeds from the business combination | $ | 10,461 |
The number of shares of Common Stock outstanding immediately following the closing was as follows:
| Class A Common Stock
PACI public shareholders | 1,767,390 |
PACI's sponsors | 6,883,579 |
Company's employees | 9,441 |
Legacy Volato shareholders (1) | 7,434,936 |
Legacy Volato Series Preferred investors | 11,948,103 |
Total shares of Common Stock immediately after closing | 28,043,449 |
(1) The number of Legacy Volato shares was determined from the shares of Legacy Volato shares outstanding immediately prior to the closing converted at the exchange ratio of approximately 1.01508.

X
- Definition Reverse Recapitalization + References No definition available. + Details
Name: | soar_ReverseRecapitalizationAbstract
Namespace Prefix: | soar_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Schedule Of Reverse Recapitalization + References No definition available. + Details
Name: | soar_ScheduleOfReverseRecapitalizationTableTextBlock
Namespace Prefix: | soar_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration