Avantair KICKIN BUTT on sales, still not profitable

[johnsonrod]

Found this on AINOnline:


Avantair Narrows Losses, On Way to Profitability[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Piaggio Avanti fractional provider Avantair is narrowing its losses and on course to reach profitability in the near future, company CEO Steven Santo said yesterday during a quarterly investor conference. In the first three months of this year, the Clearwater, Fla.-based operator increased its year-over-year revenues by 51 percent, to $29.9 million, and decreased its net loss by $2 million, to $5.4 million. Santo said that unlike the other fractional providers, Avantair is actually benefiting from the souring U.S. economy as share owners at competing–and more expensive–programs flock to Avantair since it provides a “better value.” In fact, charter card and demonstration flight revenues at Avantair increased 42 percent and 80 percent, respectively, over last year’s levels. Additionally, the company sold 31.5 shares in the quarter, up from 28 in the same period last year, “while the competing fractional providers barely sold anything so far this year; we’re outselling the competition by four to one,” Santo said. He believes Avantair can achieve profitability when it has 45 “fully fractionalized” (meaning fully sold) aircraft; it currently has 40 of its 42 fractional turboprop twins fully sold out.[/FONT]

 

[jonjuan]

Found this on AINOnline:


Avantair Narrows Losses, On Way to Profitability
[FONT=Verdana, Arial, Helvetica, sans-serif]Piaggio Avanti fractional provider Avantair is narrowing its losses and on course to reach profitability in the near future, company CEO Steven Santo said yesterday during a quarterly investor conference. In the first three months of this year, the Clearwater, Fla.-based operator increased its year-over-year revenues by 51 percent, to $29.9 million, and decreased its net loss by $2 million, to $5.4 million. Santo said that unlike the other fractional providers, Avantair is actually benefiting from the souring U.S. economy as share owners at competing–and more expensive–programs flock to Avantair since it provides a “better value.” In fact, charter card and demonstration flight revenues at Avantair increased 42 percent and 80 percent, respectively, over last year’s levels. Additionally, the company sold 31.5 shares in the quarter, up from 28 in the same period last year, “while the competing fractional providers barely sold anything so far this year; we’re outselling the competition by four to one,” Santo said. He believes Avantair can achieve profitability when it has 45 “fully fractionalized” (meaning fully sold) aircraft; it currently has 40 of its 42 fractional turboprop twins fully sold out.[/FONT]

Too bad it's far from accurate. Funny how Santo doesn't specifically mention any of the "competitors" by name.

 

[Famous Dave]

[FONT=Verdana, Arial, Helvetica, sans-serif]He believes Avantair can achieve profitability when it has 45 “fully fractionalized” (meaning fully sold) aircraft; it currently has 40 of its 42 fractional turboprop twins fully sold out.[/FONT]

That's an interesting statement from the current CEO. Why does his information conflict with with the most recent quarterly report?
http://biz.yahoo.com/pz/080514/142758.html
In case you don't want to read the whole thing, it says, "The Company currently manages a fleet of 47 Piaggio Avanti P.180 aircraft..."

 

[Flybet3]

That's an interesting statement from the current CEO. Why does his information conflict with with the most recent quarterly report?
http://biz.yahoo.com/pz/080514/142758.html
In case you don't want to read the whole thing, it says, "The Company currently manages a fleet of 47 Piaggio Avanti P.180 aircraft..."

he's probably pocketing more mula for himself.

 

[AeroBoy]

Five are core airplanes, so no shares are sold in them. 47 - 5 = 42 frax airplanes. The math adds up just fine.

 

[Publishers]

This just points out what we all know, it is really difficult to make a profit at this. One of the things that really made NJ was the ability to make a massive purchase right at the start that then made the manufacturer beholden. Cessna had the support system in place whereas Piaggio does not.