Avantair Expands Service Area

Business Jet Traveler » June 2009
Monday, June 1, 2009 - 5:00am

Avantair, the only publicly traded, stand-alone fractional operator, has added Great Exuma in the Bahamas to its primary service area. In addition, Avantair is offering its share owners a discounted accommodations rate at the island's Grand Isle Resort and Spa, with which it has established a relationship. Through summer, moreover, anyone purchasing an Avantair Edge time card or Axis Club membership will receive an "Island Getaway" package that includes accommodations at the resort. Avantair operates the Italian-built Piaggio Avanti.

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““CEOs go to their vacation homes just after companies report favorable news, and CEOs return to headquarters right before subsequent news is released. More good news is released when CEOs are back at work, and CEOs appear not to leave headquarters at all if a firm has adverse news to disclose. When CEOs are away from the office, stock prices behave quietly with sharply lower volatility. Volatility increases immediately when CEOs return to work.” —David Yermack, a New York University finance professor, whose recently released study shows a correlation between when CEOs take their private jets on vacation and movements in their companies’ stock price ”

-David Yermack