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Avantair, Inc. Takes Delivery of 100th Piaggio P.180 Avanti in the U.S.

Dépèche transmise le 18 novembre 2011 par Business Wire

Avantair, Inc. Takes Delivery of 100th Piaggio P.180 Avanti in the U.S.

CLEARWATER, Fla.--(BUSINESS WIRE)--Avantair, Inc. (OTCBB: AAIR), the industry leader of fractional aircraft ownership in the light jet cabin category and the only publicly traded stand-alone private aircraft operator, announced today that it has taken delivery of the 100^th Piaggio Aero P.180 Avanti aircraft.

“Our 100th Avanti aircraft delivery in the USA is a major milestone for Piaggio Aero and a true validation of how well suited the P 180 Avanti is to the market in the United States with both private and commercial operators”

The centennial aircraft, serial #1216, was recently delivered to Avantair’s headquarters in Clearwater, Florida. Avantair operates the world’s largest fleet of Piaggio Aero aircraft and is the manufacturer’s largest customer.

“We at Avantair are very proud to be the recipient of the 100th Piaggio P180 Avanti in the United States. Piaggio Aero is our longstanding partner and this magnificent airplane has helped us to grow our market share across all of our private aviation programs,” said Steve Santo, CEO of Avantair. “Piaggio Aero’s Avanti II provides exceptional comfort, speed, safety and unparalleled value to our customers and we are pleased to be the exclusive fractional and card provider of this aircraft in North America.”

“Our 100th Avanti aircraft delivery in the USA is a major milestone for Piaggio Aero and a true validation of how well suited the P 180 Avanti is to the market in the United States with both private and commercial operators,” said John Bingham, president and CEO of Piaggio America.

About Avantair

Avantair, the sole North American provider of fractional shares, leases and flight time cards in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, FL, with more than 500 employees. The Company offers private travel solutions for individuals and businesses traveling within its service area, which includes the continental U.S., parts of Canada, the Caribbean and Mexico, at a fraction of the cost of whole aircraft ownership. The Company currently manages a fleet of 58 aircraft. For more information about Avantair, please visit: www.avantair.com.

Forward Looking Statements

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to Avantair's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions. Avantair cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and Avantair assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

In addition to factors previously disclosed in Avantair's filings with the Securities and Exchange Commission (“SEC”) and those as may be identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: general economic and business conditions in the U.S. and abroad, changing interpretations of accounting principles, generally accepted in the U.S., changes in market acceptance of the company's products, inquiries and investigations and related litigation, fluctuations in customer demand, management of rapid growth, intensity of competition. The information set forth herein should be read in light of such risks. Avantair does not assume any obligation to update the information contained in this press release.

Avantair’s filings with the SEC, accessible on the SEC's website at http://www.sec.gov, discuss these factors in more detail and identify additional factors that can affect forward-looking statements.

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