CLEARWATER, Fla., April 6, 2011 (GLOBE NEWSWIRE) -- Avantair, Inc., (OTCBB:AAIR), the only publicly traded stand-alone private aircraft operator and the leader of fractional aircraft ownership in the light jet cabin category, has announced that in honor of Earth Day, it will once again offset flight hours of carbon emissions for all new fractional owners as well as Edge Card and Axis Lease with TerraPass, the leading originator and retailer of greenhouse gas reduction offsets.
Since initiating its partnership with TerraPass in 2007, becoming the first fractional aircraft operator to offset carbon emissions, Avantair has purchased Flight TerraPass credits that are equivalent to removing more than 13.3 million pounds of carbon dioxide. This is equivalent to taking more than 1,100 cars off the road for one year (12,000 miles driven) or the emissions created by 15,842 barrels of oil.*
Avantair's exclusive Piaggio Avanti aircraft also produces the lowest amount of carbon emissions in the private aircraft industry, featuring innovative, fuel-efficient technology that reduces carbon dioxide output by approximately 35 percent compared with other fractional providers' aircraft.
"We're proud to continue our partnership with TerraPass and, thanks to the innovative design of our fleet of Piaggio Avanti aircraft, to be leading the shift towards eco-conscious travel in the aviation industry," said Avantair Chief Executive Officer Steven Santo. "We continue to receive excellent feedback from our owners about this program, which also enables them to contribute by purchasing their own TerraPass credits. We encourage other businesses and individuals to join the effort to positively impact our environment."
Contributing to clean energy and greenhouse gas reduction projects throughout the U.S., TerraPass credits fund three types of programs: (1) farm power such as dairy farm methane digesters; (2) landfill gas capture which reduces the impact of human waste and (3) clean energy such as wind. This partnership allows Avantair the unique ability to provide luxurious private plane travel while also maintaining a minimal carbon footprint when compared to competitors.
Avantair's commitment to providing environmentally responsible private aviation, as well as an emphasis on efficiency and value, has allowed Avantair to experience tremendous growth in a down economy. Avantair has been cited for its contributions to the private travel industry's turnaround thanks to its cost-saving, fuel-efficient aircraft and streamlined operations model. In fact, business aircraft flight activity rose 6.3 percent in November and 4.4 percent in December, compared to year-earlier sales those months, according to ARG/US International Inc.
*Estimates provided by TerraPass
About Avantair
Avantair, the sole North American provider of fractional shares, flight time cards and Axis Lease in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, Fla., 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.
About TerraPass Inc.
Launched in 2004, TerraPass Inc. works with developers of greenhouse gas reduction projects to bring to market verified carbon credits. TerraPass Carbon Management Services now manages a portfolio of over 22 carbon reduction projects across the United States, focusing on agricultural methane and landfill gas. The company sells credits verified under the Climate Action Reserve and Voluntary Carbon Standard to voluntary and compliance purchasers, and is also a leading retailer of carbon offsets through its website. For more information, visit http://www.terrapass.com/">www.terrapass.com or call +1 (415) 692 3411.