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December 21, 2010updated Feb 08, 2013

Avantair Names New Executive Vice President

By Pardhasaradhi Gonuguntla

New York, New York – Reported by Elite Traveler, the private jet lifestyle magazine

After spending 17 years with Columbus based NetJets, John Colucci is joining Avantair (OTCBB:AAIR), the only publicly traded stand-alone private aircraft operator, and the industry leader for fractional aircraft ownership and flight hour time cards in the light jet cabin category, as the company’s executive vice president.

Often credited with creating and expanding the fractional aircraft industry, Colucci’s long career with NetJets began as far back as 1993, where, as executive vice president, he was eventually responsible for guiding the NetJets sales organization, reporting directly to the company’s CEO and founder. Colucci will be working in Avantair’s New York and Florida offices to streamline all initiatives.

Bringing more than two decades of experience and knowledge with him to Avantair, the company is sure to continue growing by leaps and bounds with Colucci.

In October alone, the turbo prop fractional ownership category was up 2.8 percent from October 2009 to October 2010. In addition, fractional aircraft activity for all aircraft categories were up 13.1 percent from September 2010. And, Avantair has more than doubled its sale of flight hour time cards. In the fourth quarter alone, new clients purchased almost half the number of flight cards that Avantair sold in all of 2009.

About Avantair Avantair, the sole North American provider of fractional shares, flight time cards and Axis Club Membership in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, FL, with approximately 450 employees. The Company offers private travel solutions for individuals and businesses traveling within its service area, which includes the continental United States, Canada, the Caribbean and Mexico, at a fraction of the cost of whole aircraft ownership. The Company currently manages a fleet of 55 aircraft, with another 52 Piaggio Avanti aircraft on order through 2013.

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