Avantair, the only publicly traded stand-alone fractional operator and the sole North American provider of fractional shares in the Piaggio Avanti aircraft, is headquartered in Clearwater, FL, with approximately 400 employees. The Company offers private travel solutions for individuals and businesses traveling within its service area, which includes the continental United States, Canada, the Caribbean and Mexico, at a fraction of the cost of whole aircraft ownership. The Company currently manages a fleet of 52 aircraft, with another 57 Piaggio Avanti aircraft on order through 2013. Read more about Avantair.
Key Growth Strategies
Avantair's primary growth strategy is to continue increasing the number of available aircraft and fractional shareowners. Avantair presently sources all of its aircraft from a single manufacturer, Piaggio America, Inc. As of December 31, 2008, Avantair had contractual commitments to purchase 57 additional Piaggio Avanti aircraft through 2013 at wholesale pricing for an aggregate of approximately $349 million from this manufacturer. The Company has been able to defer aircraft deliveries to bring them in line with sales expectations based upon existing economic conditions and the contract provides flexibility to defer aircraft deliveries in the future. In addition to the cost of acquiring aircraft, Avantair's primary expenses have been related to fuel, aircraft repositioning (i.e., moving an aircraft to another location to accommodate a customer's need and demonstration flights for sales purposes), maintenance, charters and insurance.
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Investor inquiries regarding Avantair, Inc. can be directed to:
Sanjay M. Hurry The Piacente Group, Inc. 475 Park Avenue South – 5th Floor New York, NY 10016
