22-Plane Deal Worth More Than $150 Million

Piaggio Aero Industries and Avantair signed an agreement this week at NBAA 2007 calling for 22 Piaggio P.180 Avanti II aircraft to be delivered to Avantair starting in 2011 and continuing through 2012. The pending deal is worth more than $150 million.

When the new order is completed, Avantair's fleet will include 107 P.180 Avanti aircraft.

"This agreement is one of the largest sales in the history of Piaggio Aero," said Josè Di Mase, Piaggio Aero Industries CEO. "The demand for Avanti II aircraft continues to increase and this agreement will assure Avantair has a steady stream of aircraft for its fractional fleet through 2012."

"Avantair's choice of the Avanti II for this new order reaffirms the attractiveness of this aircraft for the growing fractional market," said Eric Hinson, Piaggio America CEO. "We are excited to continue providing a sophisticated, fuel efficient aircraft for Avantair and build upon our long and successful partnership."

"Avantair has experienced remarkable growth during the past two years," said Steven Santo, CEO of Avantair. "Our commitment to the highest quality service and the competitive advantages of this wonderful aircraft have really created a strong demand in the fractional marketplace. We are proud to be the only fractional provider in the US offering the Avanti II. Pending board approval, this order will help further the growth of our company."

The tri-lifting-surface, twin-pusher-turboprop P.180 Avanti II is equipped with fully digital, automatic flight control and the latest generation Rockwell Collins Pro Line 21 avionics. The system provides the pilot with better situational awareness, resulting in even higher levels of safety, efficiency, flexibility and reliability.

The Italian-designed and built aircraft is certified for single pilot operation and seats up to nine passengers. Holder of numerous speed records, the P.180 Avanti II is capable of flying over 1,700 nautical miles at up to 402 kts. and cruises at altitudes up to 41,000 ft.

FMI: www.piaggioaero.com, www.avantair.com