On July 26, 2024, Volato Group, Inc., through its wholly owned subsidiary Volato, Inc., entered into a material definitive agreement with TVT Capital Source LLC for a term loan of $4 million, with a maturity date of January 28, 2025. The loan, which also includes an interest of $1.8 million, requires Volato to make weekly payments starting August 6, 2024. An origination fee of $200,000 was paid upon receiving the loan. The agreement secures the lender with a continuing interest in all of Volato's receivables and other personal property, excluding specific aircraft purchase agreements and collateral pledged to SAC Leasing V280, LLC. The loan agreement includes standard events of default, with the lender having the right to demand immediate payment post-default. Volato can reduce the repayment amount by $800,000 or $600,000 if the loan is repaid within 30 or 60 days, respectively. A default fee of $2,500 is applicable if Volato fails to meet the payment terms. The full text of the agreement is included as Exhibit 10.1 in the Form 8-K filed with the SEC.

On July 26, 2024, Volato Group, Inc., through its wholly owned subsidiary Volato, Inc., entered into a material definitive agreement with TVT Capital Source LLC for a term loan of $4 million, with a maturity date of January 28, 2025. The loan, which also includes an interest of $1.8 million, requires Volato to make weekly payments starting August 6, 2024. An origination fee of $200,000 was paid upon receiving the loan. The agreement secures the lender with a continuing interest in all of Volato's receivables and other personal property, excluding specific aircraft purchase agreements and collateral pledged to SAC Leasing V280, LLC. The loan agreement includes standard events of default, with the lender having the right to demand immediate payment post-default. Volato can reduce the repayment amount by $800,000 or $600,000 if the loan is repaid within 30 or 60 days, respectively. A default fee of $2,500 is applicable if Volato fails to meet the payment terms. The full text of the agreement is included as Exhibit 10.1 in the Form 8-K filed with the SEC.