CLEARWATER, Fla., Jan. 21, 2009 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR) (OTCBB:AAIRU) (OTCBB:AAIRW), the only publicly traded stand-alone fractional operator and the sole North American provider of fractional shares in the Piaggio Avanti aircraft, today announced it is offering a new program, unprecedented in the fractional industry. The membership program - 'The Axis Club' - will allow a customer to access flight blocks of 25 hours at a set rate for a three-year term. Tiered membership options are available to fit the flight needs of the customer. In addition, conversion options into a fractional share are also available, should a customer's needs change throughout the course of the term.
"The Axis Club membership bridges the gap between fractional ownership and time card programs, affording customers the opportunity to enjoy the benefits of private travel with Avantair, while reducing the initial outlay of funds required to purchase a fractional share," commented Matthew Doyle, Avantair's Senior Executive Vice President of Sales and Marketing. "With a one-time membership fee as low as $75,000, customers can access blocks of flight hours at a locked-in rate with no restrictions on travel days."
"After test marketing The Axis Club membership, we found that it offers the operational and financial flexibility many private travelers are seeking in these uncertain economic times," stated Steven Santo, Chief Executive Officer of Avantair. "We are pleased with the continued strong demand for our fractional share and time card programs, and feel The Axis Club's unique hybrid approach will enable us to expose even more consumers to the lowest cost and most fuel-efficient aircraft in the Light Jet category and the superior level of service synonymous with Avantair."
About Avantair
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. For more information about Avantair, please visit: http://www.avantair.com.
Forward Looking Statements
This press release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements, based upon the current beliefs and expectations of Avantair's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements.