CLEARWATER, Fla., Oct. 22, 2009 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR), the only publicly traded stand-alone private aircraft operator, attributes its continued growth in an otherwise contracting marketplace to eco-friendly operations and standard-setting aircraft. As the sole North American provider of fractional shares and flight time cards for the Piaggio Avanti, Avantair is a major contributor to recent reports that business aircraft flight activity is at its highest level since last October, according to data released by Aviation Research Group/US (ARG/US).
The report states: "Part 135 flying was down just 3.5 percent compared with the same month last year, while fractional activity fell 7.7 percent, ARG/US data shows. However, fractional turboprop flying is up 24.4 percent, thanks to fractional provider Avantair." Avantair is the sole private aircraft operator of multi-engine turboprops, and is the only fractional operator experiencing flight hour growth across all private aircraft categories mentioned in the report.
At a time when travelers are evaluating their transportation options, Avantair's environmentally conscious aircraft and flight programs stimulate owner demand. Avantair's Piaggio Avanti aircraft feature innovative engineering enabling the lowest fuel burn and carbon emissions in the industry. The aircraft fly at a brisk 450 mph while burning 40 percent less fuel than competitors; this in turn leads to an average of 35 percent less carbon emissions, as well as lower overall costs. The aircraft also feature the same size cabin cross section as a super mid-size aircraft and one of the quietest rides. The advanced design of the Piaggio Avanti lends itself to a spacious, luxurious stand-up cabin -- with oversized leather seats and plenty of workspace.
Setting the pace towards greener aviation, Avantair was first in the industry to offset aircraft carbon emissions by purchasing Flight TerraPass credits for all new owners. TerraPass works by funding clean energy and greenhouse gas reduction projects throughout the U.S. The TerraPass credits fund three types of carbon emission reduction programs to support: (1) clean energy such as wind; (2) farm power such as dairy farm methane digesters; and (3) landfill gas capture which reduces the impact of human waste. This allows Avantair the unique ability to provide luxurious private jet travel while also maintaining a minimal carbon footprint when compared to competitors. Avantair has offset over 5.8 million lbs. of CO2 on behalf of its owners to date.
"At Avantair, we want to take responsibility for changing the conventional aviation practices by offering our customers a fuel-efficient, greener way to travel in comfort and class," said Steven Santo, founder and CEO of Avantair.
Avantair recently announced fleet expansion of three Piaggio Avanti II aircraft deliveries, with another delivery to follow this year. Avantair's fleet growth comes despite an industry downturn of 40 percent fewer jets sold in 2009 to fractional owners, according to "Business Aviation Outlook, Fractional Ownership and Jet Cards" by Rolland Vincent Associates.
About Avantair
Avantair, the only publicly traded stand-alone private aircraft operator and the sole North American provider of fractional shares, flight time cards and Axis Club Membership in the Piaggio Avanti aircraft, 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 55 aircraft, with another 53 Piaggio Avanti aircraft on order through 2013. For more information about Avantair, please visit: www.avantair.com.