CLEARWATER, Fla., March 23, 2011 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR), 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 that due to increased sales of fractional shares, it has taken delivery of a new Piaggio Avanti P-180 aircraft, marking the 56th aircraft in Avantair's fleet.
"With the demand for fractional ownership steadily increasing, Avantair is a natural choice for potential owners. In addition to increased sales of our traditional competitively priced fractional offering, our new fractional lease program is demonstrating additional market traction," commented Steven Santo, Chief Executive Officer of Avantair. "The expansion of our fleet allows us to realize increased economies of scale as we continue to capture greater market share and bottom line gains as we scale our business to match our sales growth. As the most fuel-efficient aircraft with the lowest operating cost in the light jet category, the Piaggio Avanti's technological superiority provides Avantair with a compelling competitive advantage."
As the best value in the private aircraft industry, the Piaggio Avanti offers an unparalleled combination of comfort, speed, performance, safety and efficiency. The Piaggio Avanti is the world's fastest and most fuel efficient turboprop, rivaling the speed of most light cabin jets, while offering the cabin cross section of a super mid-size aircraft.
About Avantair
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 approximately 450 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 56 aircraft, with another 51 Piaggio Avanti aircraft on order through 2013. For more information about Avantair, please visit: www.avantair.com.