Charter & Fractional
Avantair Ceases Operations
Piaggio Avanti fractional provider Avantair shut down yesterday and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations."
Piaggio Avanti fractional provider Avantair shut down yesterday and furloughed employees as it “seeks alternative financing arrangements that it hopes will enable it to resume operations."

Fractional provider Avantair shut down today 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. On Monday, meanwhile, the Clearwater, Florida-based company  received notice of a customer class-action lawsuit. It is in breach of a lease agreement for its six core airplanes, with their repossession by lessors a possibility.