Posted on February 28th, 2019
Clearwater, Florida based Piaggio Avanti fractional provider Avantair shut down and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations as quickly and efficiently as possible,” according to a June 26 8-K SEC filing. The company also received notice on Monday of a customer class-action lawsuit and is…
Posted on January 29th, 2019
Palm Beach, Fla.-based Piaggio America–the North American representative for Piaggio Aero, the Italian company that manufactures the Avanti twin turboprop–will create an “OEM-trained team with the support of additional specialists furnished from Italy” to offer restoration services to fractional share owners of Avantis grounded by the bankruptcy of Avantair, Piaggio America president and CEO John…
Posted on January 10th, 2019
On Wednesday, Avantair, provider of Piaggio Avanti fractional ownership, sent its “go-forward strategy” for “NewCo,” the working name for a reborn Avantair, that would initially seek to “restructure and support the company” as a mostly East Coast-only fractional company. Under the strategy, the business’s financial obligations would be cleaned out, though the strategy does not specify…
