Southern England-based business aircraft sales, charter and management firm ConnectJets has been awarded the UK dealership for the Piaggio Aero Avanti II. As such, it is now the dealer for the twin turboprop in the UK, Ireland, the Channel Islands and the Isle of Man. ConnectJets said it will soon announce a partner so it can launch a shared-ownership program later this year for Avanti II clients throughout the UK and aforementioned self-governing Crown dependencies.
Clearwater, Fla.-based Piaggio Avanti fractional provider Avantair shut down yesterday and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations as quickly and efficiently as possible,” according to an 8-K SEC filing. Employees were also notified that “the company will not be in a position to fund payroll on June 28,” meaning they will not be paid for time worked since June 8.
Piaggio Aero announced a reduced maintenance program for Avanti I/IIs here at EBACE, extending the heavy inspection intervals for the twin turboprop. Under the new inspection schedule, C and D checks–previously due at 1,500 and 3,000 hours, respectively–have been stretched to 1,800 and 3,600 hours.
Clearwater, Fla.-based Piaggio Avanti fractional provider Avantair recalled all of its remaining 15 furloughed pilots yesterday, company CEO Steve Santo told AIN. This brings Avantair’s pilot ranks to 194 people, not including 10 pilots who opted to bypass during the recalls following a voluntary fleet grounding and subsequent pilot furlough late last year.
Piaggio Avanti fractional provider Avantair closed on $2.8 million in new funding yesterday via the issuance of senior secured convertible notes. The notes have a three-year term and an interest rate of 2 percent. In addition, the company restructured its existing aircraft financing arrangements with Midsouth Services, reducing its monthly lease payments by more than $1.8 million during the next 15 months and extending the maturities on two aircraft.
Van Nuys, Calif.-based Elite Aviation has partnered with Piaggio Aero to expand Piaggio Avanti II sales on the U.S. West Coast. Under the agreement Elite will handle Avanti II sales in California, Oregon, Washington and Nevada. “The move into sales is a logical extension for Elite Aviation,” the company said.
Piaggio Aero general manager Eligio Trombetta said at the NBAA Convention today that his company is working on several new product upgrades for the P.180 Avanti II twin turboprop.
New Piaggio Aero general manager Eligio Trombetta was in bullish form at EBACE this week as he outlined plans for the new P1XX jet, the next aircraft to join the Italian airframer’s stable. And it seems that the new model will be more of a step up from the existing P.180 Avanti than some had imagined. “The P1XX ideally will go beyond Europe,” he said.
New Piaggio Aero general manager Eligio Trombetta was in bullish form at EBACE as he outlined plans for the new P1XX jet, the next aircraft to join the Italian airframer’s stable. And it seems that the new model will be more of a step up from the existing P.180 Avanti than some had imagined.
Before the recession truly made its presence felt, Italian OEM Piaggio Aero recognized its impending arrival and adjusted production rates accordingly, said Piaggio America president and CEO John Bingham. “What we were able to do was recognize it early enough to reposition in terms of manufacturing and market access.”
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