Avantair continues to take deliveries of new Avanti II turboprop twins and expects to more than double the size of its all-Avanti fleet over the next three years from 52 to 107 aircraft, the Clearwater, Fla.-based company said. Meanwhile, its aircraft card program continues to grow, with first-quarter sales reportedly increasing 183 percent from year-ago levels.
Fractional provider Avantair reported revenues of $35.8 million for its fiscal year 2010 second quarter, which ended December 31. It recorded operating income of $1.4 million, versus an operating loss of $628,000 in the year-ago period, and earnings before interest, income taxes, depreciation and amortization stood at $2.8 million.
Dubai Airshow shoppers looking to buy an aircraft made by a locally owned company need look no further than the Piaggio Avanti II. The eye-catching twin turbo-prop exudes the Italian style of its origins but Piaggio Aero Industries itself is exhibiting here under the auspices of its one-third shareholder Mubadala Development Co. of Abu Dhabi (Stand C510).
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.
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.
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
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.
Italy’s Piaggio Aero has introduced a third cabin choice for its six- to seven-seat Avanti II twin-turboprop, and expects to almost double production this year by ramping up its manufacturing and outfitting processes.
Piaggio Aero has appointed Jet Aviation Dusseldorf an authorized service center for the Avanti/Avanti II turboprop twin. The facility has been performing Avanti/Avanti II maintenance work for more than a decade.