Avantair selling majority of its Phenom slots

[Guitar Guy]

From AIN:

Avantair Sells Phenom Positions To Executive AirShare


Central U.S. regional fractional provider Executive AirShare (EAS) last week signed an agreement to acquire 18 Embraer Phenom 100 delivery slots from Clearwater, Fla.-based Avantair, which offers shares in Piaggio Avanti twin turboprops. EAS also has an option to buy Avantair’s two remaining Phenom 100 positions. The move ends Avantair’s plans for the 20 very light jets, which the company ordered in October 2006. Under the deal, which was sanctioned by Embraer, EAS now has firm orders for 28 Embraer Phenom 100s and four Phenom 300s, with options on 12 more 100s and four more 300s. EAS’s first Phenom 100 will be delivered next June, 14 months earlier than the company’s original order for the VLJ. According to EAS chairman and CEO Robert Taylor, the deal will allow Avantair to focus on building its national program, while EAS can more quickly “expand our regional fractional program into new markets.” Kansas City, Mo.-based EAS currently operates four Beechjet 400As, five King Air 350s, five King Air C90Bs and a Beech Baron. The Beechjets are likely to be phased out after the Phenom 100s arrive, a company spokesman told AIN.

 

[johnsonrod]

That's interesting. I wonder who sought out whom. Did Avantair look for a buyer? I know that JetSuite (www.jetsuite.com) will also be fielding Phenom 100s soon. EAS already had orders for Phenoms - perhaps it has more national than regional (currently based out of the Midwest) ambitions...

I wonder how the Avantair pilots view this situation? I always felt that the Phenom didn't fit the efficient one-aircraft model that Avantair currently operates - it would have added complexity to their model. It is probably a good thing (plus they get some useful cash from the sale).

 

[RNObased]

Orders are one thing, getting them on the property is another.

 

[jonjuan]

Orders are one thing, getting them on the property is another.

Exactly. NJA had 20 CXs scheduled to deliver the past 2 years and just delivered the first new one in 2-years in May 2008. They simply weren't selling.
The $1.8 billion in NJA orders are just that. There's no obligation to actually deliver.

 

[RNObased]

Exactly. NJA had 20 CXs scheduled to deliver the past 2 years and just delivered the first new one in 2-years in May 2008. They simply weren't selling.
The $1.8 billion in NJA orders are just that. There's no obligation to actually deliver.

Well JJ, I would be willing to bet that your information as usual is bad. I have a hard time believing that the Citation X one of the most popular jets in the NJA fleet isn't selling, but I can check on that and get back to you.

But orders are again just that, orders.

 

[Helmsalee]

In indoc about 2 months ago, the X chief pilot said that we were getting about 14 this year and for the next couple of years. As far as growth is concerned, he also said that was about the same number of retirements so the fleet is stable. No growth but still taking deliveries.

 

[GSXR600]

Exactly. NJA had 20 CXs scheduled to deliver the past 2 years and just delivered the first new one in 2-years in May 2008. They simply weren't selling.
The $1.8 billion in NJA orders are just that. There's no obligation to actually deliver.

Soo what ever happaned with the 2 year waiting list for new owners u guys are always talking about in today bad economy???

mmmm.......everyone is experiencing a slow down right? Even rich folks are been carefull how they spend their money..

 

[realityman]

jonjuan, as someone who is actually IN the X program, I can assure you we are taking delivery of new X's. At exactly what rate, I'm not sure. But they're showing up.

Relax, we're doing fine.

 

[Hawker dude]

Soo what ever happaned with the 2 year waiting list for new owners u guys are always talking about in today bad economy???

mmmm.......everyone is experiencing a slow down right? Even rich folks are been carefull how they spend their money..

Yup

you are right

the rich chick with the fake tits I just flew to go shopping is really hurting.

 

[RNObased]

Soo what ever happaned with the 2 year waiting list for new owners u guys are always talking about in today bad economy???

mmmm.......everyone is experiencing a slow down right? Even rich folks are been carefull how they spend their money..

Listen to JonJuan isn't a great idea if you want facts. However he will freely despense his opionion, about the fractional world for free.