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Avantair Announces Revenue Increase
Avantair, the only publicly traded, standalone fractional operator, has announced financial results for the first quarter of 2009. Revenues totaled $34.7 million, a 16-percent gain over the same quarter last year. During the quarter, the company said, it recorded a "substantial" increase in hours flown and added a 52nd aircraft to its fleet. It also announced the Axis Membership Club "to bridge the gap between the financial commitment of a fractional share and charter time cards."