Avantair Adds Turboprops, reports higher revenues

While bigger fractional ownership providers are scaling back, Clearwater, Fla.-based Avantair plans to add six more Avantis to its fleet before year-end. CEO Steven Santo attributes the growth partly to the operating economics of the twin-turboprop Avanti, which has a cabin equivalent to that of a midsize business jet, a maximum cruise speed of more than 400 knots and low fuel burn. The company's revenue in the first quarter was up 16 percent from the same quarter last year.