Avantair

Oh man, that's terrible to hear. I've applied to them numerous times. Seemed like they were doing good for several years. I hope they recover quickly and get the pilots back to work.
 
skydisaster said:
I just heard that all pilots were furloughed this evening. I am sorry to hear that.
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Well, at least one pilot I know there hasn't been furloughed....or at least hasn't been informed he's furloughed....as of today. So, not so confident about your info. That said, he did have his upcoming training event cancelled/ postponed. :eek:
 
lrey said:
I'm really wandering what the aircraft owners are being told and if they loose business over this. I can't imagine people are very happy when they can't fly their airplane.
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They are losing owners. Right now a bunch of us charter operators are picking up business because of this. We even had one Avantair customer approach us about buying a Piaggio and just having us crew it for him because he is tired of Avantair.
 
What we all want to happen, everyone to get back to work ASAP. What will probably happen, Avantair will be closing it's doors most likely. They have never made a single dollar. They made that clear during the interview.
 
Inverted25 said:
They are losing owners. Right now a bunch of us charter operators are picking up business because of this. We even had one Avantair customer approach us about buying a Piaggio and just having us crew it for him because he is tired of Avantair.
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That's one thing I was really curious about. What have the owners been told and what's being done for them?
 
Mark815 said:
That's one thing I was really curious about. What have the owners been told and what's being done for them?
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This owner was told 5-7 days and they should be flying again. He is just fed up though. He was a old customer of ours in our King Airs but wants to stay in a Piaggio just not with Avantair so he is considering buying one outright and putting it on our certificate
 
Well here's the thing - the Piaggio's are still owned by the collective owners, so more than likely even if Avantair goes down, someone will buy it out and take over the management of these aircraft. Avantair has no assets itself - it only manages the aircraft if I understand it correctly.
 
Murdoughnut said:
Well here's the thing - the Piaggio's are still owned by the collective owners, so more than likely even if Avantair goes down, someone will buy it out and take over the management of these aircraft. Avantair has no assets itself - it only manages the aircraft if I understand it correctly.
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In order to successfully run a fractional operation, you typically need some 'core' airplanes that are owned/leased by the company. If there are 8 owners on a particular airframe and 4 of them want to fly at the same time you need the extra airframes to cover.
 
From what I understand about Avantair, you don't own anything. Could be wrong, but thats what I gathered when I spoke with them.
 
I am sure some one has better information than I do, but a search of the FAA registry indicates that many owners do own shares in the airplanes.

IF Avantair does not make it, the way the aircraft owners are handled will have a significant impact on all future fractional transactions. A fractional owner owns an asset with multiple other people/ corporate entities that you have never met nor had any direct business dealings. If the management company ceases to exist, the ownership of that asset does not change. This creates a real issue if you are trying to liquidate your share in that asset.
 
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