CLEARWATER, Fla., Dec. 15, 2008 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR) (OTCBB:AAIRU) (OTCBB:AAIRW) ("the Company"), the only publicly traded stand-alone fractional operator and the sole North American provider of fractional shares in the Piaggio Avanti P.180 aircraft, announced today that it has taken delivery of its 50th Piaggio Avanti P.180 aircraft.
"This milestone delivery for the Avantair fractional program clearly highlights the ongoing demand for our services and the confidence our customer base has in the Piaggio Avanti P.180 aircraft," commented Steven Santo, Chief Executive Officer of Avantair. "Piaggio produces the lowest cost and most fuel-efficient aircraft in the Light Jet category, which enables us to best meet the needs of our customers and retain our competitive advantage. As we continue to capture greater market share, we look forward to the further expansion of our fleet and the continuation of our successful relationship with Piaggio."
This delivery is in-line with Avantair's steady fleet expansion since the Company was founded in July of 2003. Today, Avantair operates the youngest fleet in the fractional aircraft industry, at approximately 3.7 years, according to the JetNet Fractional Ownership and Aircraft Report.
The Piaggio Avanti P.180 is the world's fastest turboprop, rivaling the speed of most light cabin jets, while offering the cabin cross section of a super mid-size aircraft. Furthermore, at approximately one third of its major competitors, Avantair maintains the lowest fuel surcharge in the industry. Combined with its absence of hourly fees and significantly lower annual operating costs, Avantair offers customers upwards of 45% yearly cost savings over the competition.
About Avantair
Avantair, the only publicly traded stand-alone fractional operator and the sole North American provider of fractional shares in the Piaggio Avanti P.180 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 51 aircraft, with another 58 Piaggio Avanti IIs on order through 2013. For more information about Avantair, please visit: http://www.avantair.com.