Charter & Fractional
Avantair Share Owners Finally See Aircraft Sales Proceeds
Distribution of the proceeds was blocked by a lawsuit brought by one Avantair shareowner that challenged the trustee's plan.

Disbursement of proceeds from the auction of 13 Piaggio P.180 Avanti twin turboprops sold under the bankruptcy of shuttered fractional provider Avantair began on February 20, a milestone in the company’s dissolution. St. Petersburg, Fla.-based Avantair was put into involuntary bankruptcy in August 2013, and the auctions, conducted under Section 363 estate property sales, started in July.


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