Avantair Profits During Downturn

June 1, 2009
Fractional

Clearwater, Fla.-based fractional provider Avantair reported another quarter of positive EBITA profits in a difficult economic environment, putting the Piaggio Avanti fleet operator on the path to health after years of losses. In its fiscal third quarter, which ended March 31, the company saw year-over-year revenues climb 15.7 percent to $34.7 million.

It also saw operating income of $300,000 (not including a $2.95 million nonrecurring credit resulting from a vendor contract termination) in the quarter, versus a $5.2 million loss in the same period last year. Not including the nonrecurring credit, Avantair’s EBITA profit was $1.5 million, compared with a $690,360 profit in the preceding quarter and a $4 million loss in the same time frame last year.

Back

CitationShares is now CitationAir by Cessna November 02, 2009 Responding to the brave new world of recession-shaped business aviation, CitationShares last month in New York City unveiled a rebranding that... [more]
Flight Options Pilots Authorize Strike November 01, 2009 IBT 1108, the union representing Flight Options pilots, on October 19 said 90 percent of those voting in a strike-authorization vote approved a... [more]
Connor takes over at NetJets Europe November 01, 2009 New NetJets chairman and interim CEO David Sokol has begun making changes at NetJets Europe, appointing a new boss to run the business and... [more]
Marquis Jet sees demand on rebound October 22, 2009 Marquis Jet’s Randy Brandoff said his jet card company is well positioned to take advantage of the shifting sands of the corporate jet market.... [more]
Flight Options opts for Aircell’s high-speed Internet systems October 22, 2009 Flight Options plans to equip most of its fleet of fractionally owned business jets with Aircell’s high-speed Internet system, a decision that... [more]