Avantair Announces Revenue Increase

Business Jet Traveler » August 2009
Tuesday, September 1, 2009 - 5:00am

Avantair, the only publicly traded, standalone fractional operator, has announced financial results for the first quarter of 2009. Revenues totaled $34.7 million, a 16-percent gain over the same quarter last year. During the quarter, the company said, it recorded a "substantial" increase in hours flown and added a 52nd aircraft to its fleet. It also announced the Axis Membership Club "to bridge the gap between the financial commitment of a fractional share and charter time cards."

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Quote/Unquote

“"Many years ago, our company founder, Al Conklin, sold a new twin-engine business aircraft to a very successful entrepreneur. He had established a bit of a rapport with the individual and, after the sale, asked him straight out, 'How can you justify the cost of this airplane?' His reply? 'What is the cost of a divorce?'"–David Wyndham, president, Conklin & de Decker”

-David Wyndham