Summary by Moomoo AI
Honda Aircraft Company has terminated the Fleet Purchase Agreement with Volato Group for 23 HondaJet HA-420 aircraft, valued at $161.6 million. The agreement, dated May 5, 2023, was scheduled for deliveries between Q4 2023 and Q4 2025. Under the termination terms, Honda Aircraft will retain previously paid deposits, and Volato must enter individual purchase agreements for aircraft with existing deposits.In a separate development, NYSE American has initiated delisting proceedings for Volato's warrants due to "abnormally low" price levels. Trading of the warrants was suspended on September 10, though the company's Class A Common Stock continues to trade on NYSE American. Volato does not plan to appeal the delisting decision, and the warrants may continue trading on pink sheets or other available markets.
