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CLEARWATER, Fla., Sep 24, 2007 -- Avantair, Inc. (OTCBB:AAIR) (OTCBB:AAIRU) (OTCBB:AAIRW) ("Avantair"), the only publicly traded stand-alone fractional operator, announced today that they have promoted Kevin Beitzel to the position of Executive Vice President of Maintenance and Operations.
Mr. Beitzel, who joined the company in 2005, and recently held the position of Vice President of Maintenance, will now be responsible for leading the company's Maintenance and Operations departments. Mr. Beitzel has been in the aviation industry for 20 years starting with Pan American World Airways with his most recent tenure of 16 years holding various management roles with US Airways before joining Avantair. He holds a B.A. in Aviation Management and an Associate Degree in Professional Aeronautics. Steven Santo, Chief Executive Officer commented, "Kevin is an extraordinary asset to our company. His knowledge and skills along with his management style will lead the company to its next level of growth." Mr. Beitzel said, "I am fortunate to work for Avantair and look forward to assisting in its continued growth and strategic maintenance and operations plans." About Avantair Headquartered in Clearwater, FL, Avantair, Inc. is the exclusive North American provider of fractional aircraft shares in the Piaggio Avanti P.180 aircraft. Avantair is the fifth-largest company in the North American fractional aircraft industry and the only publicly traded stand-alone fractional operator. As of July 31st, 2007, the company managed a fleet of 37 aircraft with another 48 Piaggio Avanti IIs on order. It also recently announced an order of 20 Embraer Phenom 100s. Avantair, with operations in five states and approximately 300 employees, offers private travel solutions for individuals and companies at a fraction of the cost of whole aircraft ownership. FORWARD LOOKING STATEMENTS This press release, and other statements that Avantair contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Avantair's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions. Avantair cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and Avantair assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. In addition to factors previously disclosed in Avantair's filings with the Securities and Exchange Commission (SEC) and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: general economic and business conditions in the U.S. and abroad, changing interpretations of generally accepted accounting principles, changes in market acceptance of the company's products, inquiries and investigations and related litigation, fluctuations in customer demand, management of rapid growth, intensity of competition as well as other relevant risks detailed in Avantair's filings with the Securities and Exchange Commission, including its report on Form 10-QSB for the period ended September 30, 2006, its Definitive Proxy Statement on Schedule 14A, as filed on February 1, 2007 and its Form 8-K filed on March 13, 2007. The information set forth herein should be read in light of such risks. Avantair does not assume any obligation to update the information contained in this press release. Avantair's filings with the SEC, accessible on the SEC's website at http://www.sec.gov, discuss these factors in more detail and identify additional factors that can affect forward-looking statements. Avantair, Inc.
Heather Dynes
440-639-2773
hdynes@avantair.com |
