At least one fractional is doing well: Avantair

[glasspilot]

Does Avantair do any charter flying or is it all owners?

We sell time cards like NetJets Marquis program. We call ours the "Edge Card" because alphabetically...ours comes first.

 

[brokeflyer]

We sell time cards like NetJets Marquis program. We call ours the "Edge Card" because alphabetically...ours comes first.

lol funny......well my W2 has a few more numbers added to the END......

 

[mainiac]

In a growing company, like Avantair, you don't always have to pull a profit to be successful. Sometimes you have to sacrifice profits for growth.

Balance sheets and Income and loss statements are all well and good, but they have to be interpreted in context to what the company is doing.

Nicely put!

As we inch our way towards profitability, I can say that the growth and increased stability during my not quite 3yrs here are proof of that statement! 21 airplanes then, 50 now! Industry 7/7 schedule, wide range of experienced pilots and increased QOL on the road, as our staffing and fleet has greatly reduced the really long days.
And, our owner group is easy to work with, and enthusiastic about the "unique" Piaggio. Most have done some homework on the plane, and take a real interest in its operation.

 

[glasspilot]

lol funny......well my W2 has a few more numbers added to the END......

Not true. I make $73,678.845938103920573829 per year. WAY more digits than you!

 

[brokeflyer]

whatever.....i was just responding to your attack.

 

[o2bflyn]

Nicely put!

As we inch our way towards profitability, I can say that the growth and increased stability during my not quite 3yrs here are proof of that statement! 21 airplanes then, 50 now! Industry 7/7 schedule, wide range of experienced pilots and increased QOL on the road, as our staffing and fleet has greatly reduced the really long days.
And, our owner group is easy to work with, and enthusiastic about the "unique" Piaggio. Most have done some homework on the plane, and take a real interest in its operation.

Yup, and what I see when I look at the financials is a net gain in revenue and a reduction in losses over the past year. Seems like progress to me.

I think every business that ever tried to grow in the early stages all had balance sheets that looked like this at one point or another.

 

[C425Driver]

Avantair was EBITDA positive for the month of September

That's the important statement in the press release. We've been working toward positive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) and we finally achieved it. Now we must be able to sustain it. In a time when many companies are hurting financially and some are furloughing we're heading in the right direction.

We are a young company and we are not going to be profitable overnight. This takes time and as we grow we can continue to sustain our positive EBITDA. Also, we don't have the backing of Uncle Warren, Textron, Bombardier, or HIG to help subsidize us through the tough times so the fact that we can move toward profitablility in an economy like this on our own is impressive.

 

[Correcting]

Speaking for NJA, Uncle Warren doesn't subsidize us or any of his other companies. Each company must stand on it's own merit. But don't take my word for it, just read a little bit about Warren. That being said, it can't hurt when every piece of paper at NJA says "A Berkshire Hathaway Company."

And in fairness to the Avantair financials, I can only imagine what NJA's financials were like in the beginning. Talk to some of the guys that were here back then and they'll tell you NJA was on the edge of extinction. It's really amazing to see what NJA has become once you learn how close they were to going out of business in the beginning.

 

[glasspilot]

Speaking for NJA, Uncle Warren doesn't subsidize us or any of his other companies. Each company must stand on it's own merit. But don't take my word for it, just read a little bit about Warren. That being said, it can't hurt when every piece of paper at NJA says "A Berkshire Hathaway Company."

And in fairness to the Avantair financials, I can only imagine what NJA's financials were like in the beginning. Talk to some of the guys that were here back then and they'll tell you NJA was on the edge of extinction. It's really amazing to see what NJA has become once you learn how close they were to going out of business in the beginning.

A well thought, articulate, non-biased, evenhanded post.

Move along, this is flightinfo...we don't want your kind here!

 

[CA1900]

Move along, this is flightinfo...we don't want your kind here!

Hahaha...

This is the kind we want here: http://www.youtube.com/watch?v=vt2i0ts-uck

:laugh: