Avantair Reports Another Strong Quarter

Avantair, which provides flight-hour cards and fractional shares in the Piaggio Avanti twin-engine turboprop aircraft (in photo), has announced record quarterly sales for its fiscal 2010 third quarter, which ended March 31. According to the Clearwater, Fla.-based company, revenue during the period increased to $36 million, up 4 percent from the same quarter last year. Sales of flight-hour cards increased 183 percent to 82. Revenue-generating flight hours reached a new third-quarter record, meanwhile, rising 11.5 percent from the same quarter last year to 9,623 hours.