Transport in Italy

January 24, 2008 - 10:36am

Piaggio Avanti fractional provider Avantair has been steadily building its operation and is taking delivery of the twin turboprops as fast as Piaggio can make them. Next year it will expand its fleet in a different direction with the addition of entry-level Phenom 100 twinjets. We sat down with Avantair founder and CEO Steve Santo for an update on the company and to find out what his plans are for the new fleet type.

January 11, 2008 - 4:25am

Notwithstanding the weak economy, Piaggio delivered 14 Avantis last year, two more than in 2001 and eight more than in 2000, when the reorganized Italian company resumed production and marketing of the twin turboprop. Although the total number of Avanti deliveries over the last three years is modest compared with those of other aircraft manufacturers, Piaggio’s growth rate is enviable in terms of percentage.

January 7, 2008 - 9:40am

Piaggio America of Greenville, S.C., has signed a deal for nine Avanti twin turboprops for a new fractional operation by Calgary, Alberta, Canada startup Avia Aviation. The contract includes a firm order for three Avantis, with options for six more. This is Piaggio’s second order from a fractional operator. The first was from Skyline Aviation at Stewart International Airport in Newburgh, N.Y., for six Avantis, with an option for two more.

December 27, 2007 - 6:54am

In its first-quarter FY2008 report issued in mid-November, Clearwater, Fla.-based fractional provider Avantair said revenues increased 52.9 percent, to $25.7 million, year-over-year, but its quarterly net loss increased to $4.8 million from $3.8 million the previous year.

November 26, 2007 - 7:24am

The little company that almost didn’t has proved it can. Five years after Piaggio Aero Industries was only a week away from closing its doors forever, the Italian aircraft manufacturer has recorded its fourth consecutive profitable year with revenue last year of $142 million, an operating margin of $22.2 million and orders for 42 Avanti twin turboprops since last year’s NBAA Convention.

November 20, 2007 - 11:06am

In its first-quarter FY2008 report issued late last week, Clearwater, Fla.-based fractional provider Avantair said revenues increased by 52.9 percent, to $25.7 million, year-over-year, but its quarterly net loss increased to $4.8 million from $3.8 million a year ago.

October 12, 2007 - 9:50am

Piaggio Aero Industries is considering laying off 150 to 170 workers over the next few months. This reduction follows a three-year period of transition of ownership from the Italian government, where a “pre-purchase level of employees was to be retained,” said company officials.

October 11, 2007 - 7:14am

Piaggio Aero Industries delivered 16 Avantis last year, up from 12 in 2001 and six in 2000. The production rate is set at 20 aircraft this year and 26 for next year. Revenues rose by 11 percent to $203 million last year.

October 8, 2007 - 5:51am

Sviluppo Italia, the Italian government industrial investment agency, has bought more than 20 percent of Piaggio Aero Industries, parent company of Piaggio America, with an investment of E20 million ($21.8 million).

October 4, 2007 - 6:45am

When Steven Santo announced the creation of a fractional ownership program with an aircraft fleet consisting solely of Italian-built Avanti turboprop twins, some reacted to the news with skepticism. The economy was entering a recession, they said, and the airplane itself had never sold well.

Now the skeptics are silent, and Santo typically shows up for work with the smile of a man well satisfied with his lot in life.

 
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