Avantair CFO Resigns

[sshrae]

You know, I see plenty of folks trying to sell their shares from the other Fracs, too.

We're entering a time of transition, designed to improve things for both Owners and employees alike. Since I don't know what to talk about and what NOT to talk about, I'm just not going to discuss anything... Other than to say that there will be some big enhancements over the near-, and long-term future.

We're not quite ready to open our own Avantair branded FBO chain just yet, but we're a long way from going under...

Judging by the execs leaving and the lack of capital, I would not be holding my breath. If this isn't 'writing on the wall' I don't know what is. Fortunately there are a lot of carriers hiring, United, Hawaiian, etc... You have a college degree right???

 

[NoJoy]

It would be nice if Hawaiin had their window open-

 

[NoJoy]

And of course for the "Legacy" airlines, a four year is almost a must. And some PIC Jet time.

 

[jonjuan]

You know, I see plenty of folks trying to sell their shares from the other Fracs, too.

We're entering a time of transition, designed to improve things for both Owners and employees alike. Since I don't know what to talk about and what NOT to talk about, I'm just not going to discuss anything... Other than to say that there will be some big enhancements over the near-, and long-term future.

We're not quite ready to open our own Avantair branded FBO chain just yet, but we're a long way from going under...

Problem is, every other frax has a buy back guarantee. An avantar share owner has to find their own buyer if they want to split. That's gotta be a pleasant experience.

 

[scarface]

How does that Piaggio handle at altitude? Its got to just sip fuel in the 30000 foot plus range.
I found, many years ago, when I was a corporate pilot that the heavies wanted to take our Sabreliners over our King Airs, no matter what the distance. When I pointed out the obvious, namely that a Sabreliner burned a lot more fuel and didn't give any real time difference in the Harrisburg to Newark leg segments I was told everyone was aware but the high rollers wanted the jets. Glad to see Avantair has attacked some of those biases.
Good luck to all Avantair people;I think it's a good concept and hopefully the company will recover and flourish.

 

[208starcheck]

So, any truth to the rumors some employees who were expecting a paycheck today were told they might get paid next week?

I've heard this from a couple different sources. Sorry to hear if it is true.

 

[sshrae]

I think there is a union there now, if that is the case they should bring up a lawsuit against management. They get their golden parachutes while the rest of the employees can't pay their bills because the paychecks bounce, unacceptable...

 

[chief9404]

I talked to a former Avantair owner. He said its a matter of time before Avantair goes under. He had no takers on fractrade.com for his share on his Piaggio so he just let it go and walked away.

 

[208starcheck]

Did mgmt give a reason for no paycheck?

 

[brokeflyer]

Did mgmt give a reason for no paycheck?

if they told the truth on that it would just make it worse.

"we cant pay you for all the flying you've done this week, it woulda caused us in management only to steal 50 million instead of $50,000,800....sorry"

 

[NJAowner]

Problem is every other frax has a buy back guarantee. An avantar share owner has to find their own buyer if they want to split. That's gotta be a pleasant experience.

JJ is actually correct! The FracTrade website overstates all of the shares for sale becuase it may list a 1/4 share as 1/4, 1/8 and 1/16 as many owners will sell part of their shares. The fact of the matter is that there is no real market for the resale of Avantair shares and the compay has allowed many owners to put their shares "on ice" - no longer pay fees and no longer fly, but the owner still owns the share, the company sitll flies the plane, and the interest continues to fall in value.

 

[AeroBoy]

I'm an aviation journalist who's looking for some Avantair pilots to confirm/deny the rumors regarding missed payroll on Friday, April 19. A company spokesman told me that everyone was paid that day and that payroll is up to date, but I'm still not convinced. Please reply by PM -- all commenters will be kept anonymous. Thanks.

 

[crewfoodmonkey]

New CFO!

http://biz.yahoo.com/e/130425/aair8-k.html


Here was his last employer:

http://www.bizjournals.com/jacksonv...eleets-ordered-into-chapter-7-bankruptcy.html

http://www.bizjournals.com/jacksonv...ksonville-trucking-company-hits.html?page=all

 

[avantairowner]

I am just curious why does Avantair's competition go out of there way to speculate in a negative way about Avantair's future. Are you all that concerned about them as competition? I have never in my many years in business received emails and phone calls from salespeople not selling there own product but instead spreading misinformation about Avantair. I have been given at least 5 different dates from these salespeople that Avantair is going under. All of which have come and gone. The interesting thing about this is when I was leaving NetJets and asked my salesperson about Avantair he said he had never heard of them. What a difference a couple of years make. I have bad news for you naysayers, Avantair is going to be around for a long time. I am an investor and fractional owner and I have never seen so many lies perpetrated against a company. It is shameful. I recently spoke to the new CFO he is bright and sees a great future for himself at Avantair.

 

[Cavpilot]

I am just curious why does Avantair's competition go out of there way to speculate in a negative way about Avantair's future. Are you all that concerned about them as competition? I have never in my many years in business received emails and phone calls from salespeople not selling there own product but instead spreading misinformation about Avantair. I have been given at least 5 different dates from these salespeople that Avantair is going under. All of which have come and gone. The interesting thing about this is when I was leaving NetJets and asked my salesperson about Avantair he said he had never heard of them. What a difference a couple of years make. I have bad news for you naysayers, Avantair is going to be around for a long time. I am an investor and fractional owner and I have never seen so many lies perpetrated against a company. It is shameful. I recently spoke to the new CFO he is bright and sees a great future for himself at Avantair.

That's funny, I talked to a real Avantair owner the other day. Let's just say that his assessment of the situation at AAIR is in stark contrast of what you have posted here.

Hey look, I don't wish bad upon anybody. However, there are some real red flags out there with Avantair. Besides, this is Flightinfo! The main reason people even come to this site is to bag on each others company. It certainly isn't to obtain credible information.