Charter & Fractional
Avantair Management Takes Pay Cut, Grants Stock Options

Avantair, the fractional-share operator of a fleet of 56 Piaggio Avanti twin turboprops, has adjusted its payscales to better match the rate of growth of management fees, company CEO Steve Santo told AIN. Management fees generally grow at the rate of the consumer price index (CPI), but raises during certain years were climbing faster than the CPI, making it difficult for Avantair to keep expenses in check.

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