As the larger fractional ownership operations lay off employees and/or reduce aircraft delivery rates, Clearwater, Fla.-based Avantair is watching its fleet of 53 Avantis and Avanti IIs grow as quickly as Italian manufacturer Piaggio can deliver them, with six more due before year-end.
BBA Aviation engine repair and overhaul company Dallas Airmotive and fractional ownership provider Avantair have signed a five-year engine maintenance agreement. Dallas Airmotive will provide repair, hot-section inspection, overhaul and field service on the PT6A-66 turboprop engines that power Avantair’s fleet of 50 Piaggio Avantis. The engines will be serviced at Dallas Airmotive’s Charlotte, N.C.
Piaggio has received three firm orders for the P.180 Avanti II twin turboprop–two from the United Arab Emirates military and another from Susi Air in Indonesia. The UAE air force will use its Avanti IIs for transportation of specialized staff and medical evacuation. An ambulance kit enables quick reconfiguration. The aircraft come with a complete integrated logistics support package, including training for pilots and maintenance technicians.
Clearwater, Fla.-based fractional provider Avantair reported another quarter of positive EBITA profits in a difficult economic environment, putting the Piaggio Avanti fleet operator on the path to health after years of losses. In its fiscal third quarter, which ended March 31, the company saw year-over-year revenues climb 15.7 percent to $34.7 million.
Piaggio Aero Industries’ new management team is still refusing to go public on long-rumored plans that it will launch a new jet program. At the same time, the Italian manufacturer has reported that production rates for the existing P.180 Avanti II twin pusherprop are holding up well in soft market conditions.
Clearwater, Fla.-based fractional provider Avantair saw its year-over-year revenues climb nearly 24 percent, to $35.4 million, in its second fiscal quarter, which ended December 31. It also narrowed its quarterly loss to $600,000, an improvement of
Clearwater, Fla.-based fractional provider Avantair saw its year-over-year revenues climb nearly 24 percent to $35.4 million in its second fiscal quarter, which ended December 31. It also narrowed its quarterly loss to $600,000, down 87 percent from the same period a year earlier.
Avantair on December 15 took delivery of its 50th Piaggio Avanti turboprop twin–in line, it said, with Avantair’s steady fleet expansion since it was started in July 2003. At present, Avantair operates the youngest fleet in the fractional aircraft industry, at approximately 3.7 years, according to the JetNet Fractional Ownership and Aircraft Report.
Piaggio Avanti fractional provider Avantair said it logged a record number of flights during the Thanksgiving holiday (November 25 to 30), “in sharp contrast to the overall slowdown in demand experienced by major U.S.
Fractional-share operator Avantair saw its revenues climb significantly for the fiscal year that ended on June 30. Compared with the same period last year, revenues increased 51.3 percent, to $115.6 million from $76.4 million.