And The 2010 Avantair Financial Report is....
 

......just released. A net loss of $4,000,000 ($3.968.559) for fiscal 2010. That is an improvement of $500,000 from last year.......almost the exact amount that the CEO got as an annual raise this year....LOL

So much for the profit-sharing checks....(jk) Good luck to all aviators.

What's unhealthy is the fact that on the conference call next week you will be asked to consider the 11-on, 10-off schedule. These guys need to raise their prices, not drive their pilots into the ground.

I don't work for Avantair...and evidently neither do you.

So why exactly do you spend so much time following and then posting/critiquing what goes on there again?

I don't think that's an option, they're suppose to be the "cheapest light jet operator".... an avantair share is suppose to be less expensive than a beech jet, ultra or xcel share at any other frac.... that's their whole marketing campaign

I was under the impression they were doing well

Even if they raised their prices for new shares acquired going forward by 5%, they would still be the cheapest game in town. So, raising prices slightly could bring in some additional cash.

And that will go to the pilots, right?? :rolleyes:

Doubtful. I just ran into a Piaggio crew in Dallas that said they were told by management that unless 70% of the pilots volunteer for an 11 on - 10 off, 10 on - 11 off schedule, then the company "might cut costs in a manner that all the other fractionals did." Since all the other fractionals furloughed.......I dunno. The crew took it that way.........

Avantair is still hiring & taking delivery of growth airplanes, right? They wouldn't be the first aviation company to "hire until they fire" but if so, a veiled furlough threat if folks don't take a ridiculous schedule is about as close to a hollow threat as you can get.

Take what BTDT (a disgruntled ex-employee who quit in a big huff when he wasn't upgraded in 1yr) "heard" from some "crew" in "Dallas" with a grain of poop.

Avantair is just trying to save money during hard economic times to make us the strongest player in the industry. Is that so bad? Personally I think it's admirable to ASK the pilots to VOLUNTEER rather than just making a blanket change across the board. When the first suggestion was not popular, management and the pilot committee went back to the drawing board to try to find something that would work with our cost-savings measures that would also be acceptable to a majority of the pilots. When was the last time you heard an aviation company do something like that?

Well.....P-Factor might be right. I guess we will see next Friday....the deadline for that 70% of pilots to "take one for the team." lolol