Industry Leading Fractional Aircraft and Flight Hour Time Card Operator Launches New Axis Lease Program on the Fuel Efficient Avanti Aircraft

CLEARWATER, Fla., -- February 22, 2011 -- Avantair, Inc. (OTCBB:AAIR), the industry leader for fractional aircraft ownership and flight hour time cards in the light jet cabin category and the only publicly traded stand-alone private aircraft operator, has introduced the Axis Lease Program, a client friendly, cost conscious fractional ownership lease program.

 

The new plan offers a minimum two-year lease term and is available in 25 hour increments starting at 50 hours per year. Introductory pricing is available until June 30, 2011.

“Our Axis Lease Program offers lower upfront costs and no residual risk while providing all the benefits of fractional ownership,” said Steven Santo, founder and CEO of Avantair. “We’ve listened to the marketplace and surveyed our customers. Their feedback was clear and our solution is the Axis Lease Program. Based on what we learned, we’ve made fractional ownership more financially accessible and less daunting by reducing clients’ initial spend and removing financial risk. We continue to focus on improving our private travel options, and the ability of owners and individuals to select plans that best suit their private travel needs. We believe the Axis Lease Program accomplishes this goal by complementing our existing Edge Card and fractional ownership service offerings. The Axis Lease Program makes owning fractional shares easier than ever and we believe this will be reflected in our expected accelerating fractional ownership sales this year.”

The program’s introductory pricing requires a monthly management fee and lease payment of $13,150, plus the federal excise tax (FET). Incidentals are included in that price, and fuel is billed separately on a per flight basis.

The service area for the Axis Lease Program is identical to that of a fractional ownership program, including the 48 contiguous states and several international destinations as well. The new program now complements Avantair’s Edge Card – the industry’s most cost effective 15 or 25 hour time cards – and Fractional Ownership, featuring the industry’s lowest hourly operating costs.

The Axis Lease Program replaces the Axis Club Membership, which offered a one-time low membership fee with access to 25-hour blocks of flight time.