CLEARWATER, Fla., Oct 10, 2011 (BUSINESS WIRE) -- Avantair, Inc., the industry leader for fractional aircraft ownership and flight hour time cards in the light jet cabin category and the only publicly traded, stand-alone private aircraft operator, today announced its plans to take delivery of its third new Piaggio Avanti II aircraft since July 2011.
Avantair continues to buck the stiff headwinds affecting the entire private aviation sector. Avantair is one of the few fractional providers experiencing increases in demand for all of its program offerings and growing its fleet size.
"Our success is a tribute to having the best product supported by industry leading service," said Steven Santo, Chief Executive Officer. "We are excited to add these new Avantis to our fleet, as the aircraft has been lauded by our owners for its cabin comfort, performance and efficiency. Avantair's Avanti truly changes the way people view private travel."
As the most fuel-efficient aircraft with the lowest operating cost in the light jet cabin category, the Piaggio Avanti's technological superiority provides Avantair with a compelling competitive advantage, making it the best value in the private aircraft industry. It offers an unparalleled combination of comfort, speed, performance, safety and efficiency. The Piaggio Avanti is the world's fastest and most fuel-efficient twin turboprop, rivaling the speed of most light cabin jets, while offering the cabin cross section of super mid-size aircraft.
Avantair, the sole North American provider of fractional shares, flight time cards and Axis Club Membership in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, FL, with more than 500 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 58 aircraft. For more information about Avantair, please visit: www.avantair.com .
Forward Looking Statements
This press release may contain 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 as may be 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. 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.
SOURCE: Avantair, Inc.