Bankruptcy hearings for Avantair held last month in Tampa, Fla., brought some needed good news for share owners of the 56 ex-Avantair Piaggio Avantis who are hoping to return their aircraft to the sky. During one of the hearings, the Italian aircraft manufacturer unveiled a Service Bulletin (SB) that provides a path for owners of these Avantis to regain their airworthiness certificates, which were revoked by the FAA in late July and August.
New Jersey-based Part 145 repair station Teterboro Rams, which has mechanics’ liens on four ex-Avantair Piaggio Avanti turboprops in its possession, is “in negotiations with two groups [of owners] to release two of the aircraft,” Rams co-owner Dennis Espinosa told AIN. The FAA revoked the airworthiness certificates of all 56 ex-Avantair Avantis not long after the fractional provider was declared insolvent in late July.
Clearwater Fla.-based Avantair’s assets will be sold off and the company liquidated after it failed to meet a deadline last week to contest an involuntary Chapter 7 filing in the Florida Middle District U.S. Bankruptcy Court in Tampa. Judge Catherine McEwen signed an order on Friday converting the case to full Chapter 7 status and gave former fractional provider Avantair until this Friday to provide the court with a list of creditors, co-debtors and unexpired leases. The court has also given Avantair’s creditors until December 18 to file a claim.
A Massachusetts judge has granted a petition for a temporary restraining order preventing JetDirect Aviation Acquisition Company (JDAAC) from completing the purchase of assets of JetDirect Aviation, at least until a preliminary injunction hearing is held tomorrow at 11:30 a.m. EDT.
Boeing today presented what it called its best and final contract offer to its approximately 27,000 employees represented by the International Association of Machinists and Aerospace Workers in Washington, Oregon and Kansas. The offer includes an 11-percent pay increase, cost-of-living adjustments and pension increase of $80 per month per year of service.