St. Petersburg, FL (February 6, 2006) - Avantair, the exclusive provider of fractional aircraft
shares in the Avanti P.180 aircraft, announced today that Tracy Chaplin has accepted the position
as Chief Operating Officer at Avantair. “We are extremely pleased to have Tracy on board as part
of the Avantair team,” said Steve Santo CEO of Avantair.

Formerly Chief Purchasing Officer at Flight Options, the second largest fractional ownership provider, Chaplin was responsible for the development of strategy and management of an annual spending budget exceeding $400 million dollars that included fuel management, charter management, maintenance contracts, avionics, catering, logistics, and engines. Avantairs

Executive Chairman Alfred Rapetti stated “Tracys knowledge and experience in the industry will
lay the foundation to allow Avantair to reach the next level in the industry.”

A graduate of Wright State University, she holds a Bachelors degree in Economics. Additionally,
Chaplin has attended Embry-Riddle Aeronautical University Masters Program.

Under the leadership of new owner, Rapetti, the company has announced other significant news.
Avantair recently agreed to purchase 59 Piaggio Avanti II aircraft in a deal totaling $366 million
dollars delivering two aircraft per month.

To add to this momentum, Rapetti plans to double the companys fleet size by the end of 2006
Rapetti said, “This managed growth has a primary focus on providing and maintaining the highest
levels of safety and service to our owners. We will continue to develop programs and solutions
that will allow us to dedicate ourselves to providing the highest quality standards.”

Maintenance, operations and completions are also being expanded. Avantairs corporate offices
are being relocated from New Jerseys Essex County Airport (CDW) to St. Petersburg-Clearwater
Airport (PIE.) with additional offices at West Palm Beach, FL (PBI.) Completion of a 120,000
square foot office and hangar facility is expected by March 1, 2006.

Avantair Inc. is the exclusive provider of fractional aircraft shares in the Piaggio Avanti P.180
aircraft. The Avanti—the worlds fastest turboprop rivals the speed of most light cabin jets in its
category. The aircraft also boasts the same size cabin cross section as a Falcon 50 and has the
benefit of the fuel efficiency of a turboprop. Avantair offers private travel solutions for
individuals and companies at a fraction of the cost of whole aircraft ownership.

For More Information Contact: Christian Carlson
Phone: 973.809.2294
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www.avantair.com