AIN on Avantair

[HazMat]

Hopefully this signals a turnaround for all of us. I understand we are hiring as well so that can be good news for some of the furloughed pilots


Avantair Soars in Difficult Fractional Aircraft Market
By: Chad Trautvetter
February 16, 2010
Fractional


Fractional provider Avantair reported revenues of $35.8 million for its fiscal year 2010 second quarter, which ended December 31. It recorded operating income of $1.4 million, versus an operating loss of $628,000 in the year-ago period, and earnings before interest, income taxes, depreciation and amortization stood at $2.8 million.

Company CEO Steven Santo was pleased with the results, especially in light of 89-percent growth in flight-hour cards sold compared with the figures on Dec. 31, 2008, and a 4.4-percent increase of quarter-over-quarter flight activity to 9,770 hours.

Avantair also took delivery of four new Piaggio Avanti IIs in the quarter, bringing its fleet to 55 Avantis. “Despite a difficult economic environment, Avantair continues to thrive, making considerable market share gains,” Santo said.

“We are currently the leading private aircraft provider in the light jet cabin category in terms of number of owners, with approximately 28-percent market share as of November. In addition, we are delighted with the high volume of customers who are new to private air travel,” which accounted for a fifth of Avantair’s new clientele during the quarter.

 

[gutshotdraw]

Good for you guys.

A certain toolbag on this site would say it's because you're non-union. I would say it's because your management spotted a market niche and exploited it. And that's a good thing.

Cue the toolbag in 3...2...1

 

[BeenThereDoneIt]

I'd say its because they have a unique market niche, and their wages are considerably lower than the industry average. It's just math. Haz...does your post mean that you guys are in the black, or in the red?

 

[wacoflyr]

Good call, Gutshot.

 

[HazMat]

Gunshot I hope not. No question the Company has found a sweet spot and continues to grow.

 

[wacoflyr]

Of course, I was refering to the prediction about the tool. Gutshot got that one right.

 

[HazMat]

I have been here 6 years i will most likely clear 6 figures this year. Please tell me where I would make considerably more flying a turbo prop or light jet btdi. The company is know talking about profit sharing and stock to add on to that.

Listen, I posted this to show some good news and give some hope to furloughed pilots. Not many are hiring and we are. Without someone growing no one is getting hired. Lets just hope it continues there are many pilots out of work

 

[reepicheep]

Website says not accepting pilot apps at this time....

Hiring from a pool?

 

[HazMat]

I believe right now they are hiring from resumes already received. I will check though and post tomorrow.

 

[hangarrat]

I believe right now they are hiring from resumes already received. I will check though and post tomorrow.

Resume window was in November. I was told during recurrent that they got 2000 resumes in two weeks.

 

[RP170]

I haven't heard anything and submitted my app. a couple months ago with 2 letters of rec. from current pilots (one being very senior that works in the training department). What is it taking to get a call for an interview? Then again, I'm furloughed NJA and none of us seem to be getting calls for any jobs since we have an NJA number. :angryfire

 

[NoJoy]

I have been here 6 years i will most likely clear 6 figures this year. Please tell me where I would make considerably more flying a turbo prop or light jet btdi. The company is know talking about profit sharing and stock to add on to that.

Listen, I posted this to show some good news and give some hope to furloughed pilots. Not many are hiring and we are. Without someone growing no one is getting hired. Lets just hope it continues there are many pilots out of work

Thanks Hazmat for taking the time to post. Much appreciated! Making a profit during tough times takes creative strategy.

 

[BeenThereDoneIt]

HAZMAT: I have been here 6 years i will most likely clear 6 figures this year. Please tell me where I would make considerably more flying a turbo prop or light jet btdi. The company is know talking about profit sharing and stock to add on to that.

BTDI: You failed to mention that the reason you "might" clear 6 figures this year is because you work a crapload of overtime. Most pilots don't want to be away from their families that long. 2 years ago (during my interview) the company told me that they already had profit-sharing. Of course you now know that was a lie. Do tell us why they would be telling you such a thing now?

 

[BeenThereDoneIt]

Haz.......thanks for the initial post. However....we missed the part on whether or not that post means you guys are in the black or in the red. I hope the black, of course.

 

[HazMat]

2 years ago they didn't have a profit now they are in the BLACK. I think there was a profit sharing plan 2 years ago but with no profit there is nothing to share. I do not work a crap load of overtime. 6 year base is 82k and our per diem is higher than others at $2. We also get a bump for doing IOE. Once again BTDI pretty much everyone on this board knows your story we are sorry it didn't work out for u let's not turn this into a BTDI thread like the others when there is any mention of AvantAir.

 

[BeenThereDoneIt]

Dude......pull your panties back up. No one is attacking your company. You are counting your Per Diem as income. I don't know anyone else who does that. However...if you want to count your Per Diem and your extra duties as an IOE pilot towards your income...so be it. I hope you make a lot of money. You can add your "very little overtime" on top of your food money...LOL.

 

[mainiac]

Dude......pull your panties back up. No one is attacking your company. You are counting your Per Diem as income. I don't know anyone else who does that. However...if you want to count your Per Diem and your extra duties as an IOE pilot towards your income...so be it. I hope you make a lot of money. You can add your "very little overtime" on top of your food money...LOL.

Technically, PerDiem is not "income", I guess, but if it ends up in my bank account, and I'm spending it, it doesn't really matter to me whether it's spent at home or on the road, it's my money. $2/hr beats my old regional PerDiem rate.
And, I will count the IOE raise I get as income. What would you call it?

Sure is nice to see a positive thread in this difficult time, wish it could be allowed to stay positive...

As to the hiring, in recurrent last week, we were told initially 12 newhires, and the 2000 resume number is pretty accurate.

Good luck to all

 

[AftCG182]

As to the hiring, in recurrent last week, we were told initially 12 newhires, and the 2000 resume number is pretty accurate.

Looking forward to resuming your IOE duties? Nice to see you posting here again. How's the Maine winter been treating you?

 

[mainiac]

Looking forward to resuming your IOE duties? Nice to see you posting here again. How's the Maine winter been treating you?

New-hire IOE will be great, as long as they're as challenging as you were!:laugh:

Skiing's been great, snowmobiling..OK at best last month, would you believe it, never snowed at all thru my vacation in Feb!

Good thing I have another vacation right after recurrent! 65" at Sugarloaf since last Wed!

 

[BeenThereDoneIt]

Maniac...I would certainly count IOE duties as pay, but I also would have been more honest about it when I claimed that I was going to make over $100,000 as a Captain. I would have stated up front that I am having to work extra duties (IOE) and overtime to achieve that income, as well as adding my Per Diem to the fiqure to make it top $100,000.

I hope you guys are indeed hiring. They told me the same line last April, that they were hoping to have a class in June/July. That was almost a year ago and it never happened, much like the "Profit-Sharing" they told me about in the interview (which didn't exist either).

Either way.....good luck to you guys.

 

[mainiac]

BTDI, one thing I'll say for you, you sure don't give up!

I'm not sure why it matters to you so much, but, hey, whatever floats your boat...
:erm:

 

[BeenThereDoneIt]

Maniac....just the truth man....just the truth.

 

[HazMat]

The base is 82k I just fail to see where I would make "considerably" more. In other posts per diem was mentioned as part of pay so I was just trying to be consistent. Further our per diem is higher than the other fractionals so that is a positive. Once again I don't believe anyone was lying about profit sharing you just have to make a profit first to share it and it looks like that will happen this year. People can take it for what's it's worth 12 new hires is good news there are a lot of pilots who need work and this is a really good place to be right now

 

[Dilligaff]

I see that BeenThereStillCryingAboutNotUpgrading is at it again.

Actually, we do have a profit sharing plan and no one lied to anyone about it. The truth about the plan is that our profits must reach a certain level for the plan to be implemented. Last fiscal year, our profit was 38K. It's modest profit, but a profit nonetheless, yet not enough to kick in the profit sharing. So, sorry to disappoint you, but we do have the plan we just haven't reached the trigger point to implement it yet.

 

[fob727]

I see that BeenThereStillCryingAboutNotUpgrading is at it again.

Actually, we do have a profit sharing plan and no one lied to anyone about it. The truth about the plan is that our profits must reach a certain level for the plan to be implemented. Last fiscal year, our profit was 38K. It's modest profit, but a profit nonetheless, yet not enough to kick in the profit sharing. So, sorry to disappoint you, but we do have the plan we just haven't reached the trigger point to implement it yet.

That's like saying my girlfriend has nice t$t$, but I never get to touch them.

 

[Dilligaff]

That's like saying my girlfriend has nice t$t$, but I never get to touch them.

Now that's funny!

Thanks for the laugh and good luck with your girlfriend!

 

[PRFDLT]

Two dollar per diem is good but in the middle. Another frac does pay more.

 

[AftCG182]

New-hire IOE will be great, as long as they're as challenging as you were!:laugh:

Challenging?!?! Don't you mean rewarding!

Hahahaha:laugh:

FWIW, I spend my extra per diem right along with the rest of my paycheck, so I guess that I'd consider it income. I don't pinch pennies on the road and I still have extra $ to spend when I get home.

 

[BeenThereDoneIt]

Haz......if your base is 82K and you are claiming to make over 100K....that is an increase of 25%. Most of us would call 25% "considerably more"....but that is certainly subjective. Another poster disputes your claim that you have the highest Per Diem. Is he wrong too? Most people appear to be wrong in your eyes.

Dill....give the DO a call as ask him to give you the details of the Pilot's Profit-Sharing Plan at Avant.....and then post those details here. Dude....have you got a SUPRISE waiting for you! LOLOL We won't hold our breath waiting....

 

[BeenThereDoneIt]

OK Dilligaff......I couldn't stand it so I researched your "claim of profit" of $38K. (Heck, that was about my annual salary, so when I quit you guys made a profit? LOLOL)

The number sounded retarded so I had to go see where you came up with such a notion. It only ook a few minutes to see what you are posting. You work for a publically traded company so this stuff is there for everyone to see. Here it is:

You posted a 2009 "Income From Operations" value, which is actually $38,215. Dude....that doesn't mean you made a profit. Income From Operations is a value that is derived BEFORE deducting other expenses, such as Interest Expense. Avantair paid over $4,000,000 in that alone. Your company posted a NET LOSS of $4,460,921 in 2009.

Not to mention that stock prices fell for 2008 and 2009. Or that you sold over $8,000,000 in Private Stock to boost the cash flow. C'mon dude.........Just the Truth.