Five Aircraft Received In Past Two Months
Clearwater, Florida (November 20th, 2006) - Avantair, the exclusive provider of fractional aircraft shares in the Avanti P.180 aircraft, announced it took delivery of another Avanti II, its fifth delivery since September. Its fleet now comprises 29 aircraft. The company anticipates operating a fleet of approximately 40 aircraft by the end of FY2007.
About Avantair
Headquartered in Clearwater, FL, Avantair Inc. is the exclusive North American provider of fractional aircraft shares in the Piaggio Avanti P.180 aircraft. Avantair is the fifth largest company in the North American fractional aircraft industry and the only standalone fractional operator. The company currently manages a fleet of 29 planes with another 54 Piaggio Avanti IIs on order. It also recently announced an order of 20 Embraer Phenom 100s. With operations in 5 states and approximately 250 employees, Avantair offers private travel solutions for individuals and companies at a fraction of the cost of whole aircraft ownership.
ABOUT ARDENT ACQUISITION CORP.
Ardent Acquisition Corp. was formed on September 14, 2004 to serve as a vehicle to effect a business combination with an operating business. Ardent consummated its initial public offering on March 2, 2005, generating gross proceeds of $41.4 million from the sale of 6.9 million units, including the full exercise of the underwriters' over-allotment option. Each unit was comprised of one share of Ardent common stock and two warrants, each with an exercise price of $5.00. As of September 30, 2006, Ardent held approximately $38.2 million in a trust account maintained by an independent trustee, which will be released to Ardent upon the consummation of the business combination.
