Avantair, Inc. Appoints Kevin Beitzel to Vice President of Maintenance.CLEARWATER, Fla. -- Avantair, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : AAIR AAIR Asthma and Allergy Information and Research AAIR Army Accident Investigation and Reporting AAIR Asynchronous Adaptive Incremental Redundancy AAIR AI Language Research Institute , AAIRU, AAIRW) ("Avantair"), the only publicly traded stand alone fractional operator, announced today that they have promoted Kevin Beitzel to the position of Vice President of Maintenance. Mr. Beitzel, who joined the company in 2005 and previously held the position of Director of Maintenance for the company, will now be responsible for the oversight of Quality Assurance, Quality Control, Maintenance Operations, the Reliability Department, 3rd Party Maintenance and Maintenance Base Line Operations. Mr. Beitzel previously held the position of Director of Vendor Maintenance with US Airways airways Anatomy The 'pipes'–trachea, bronchi, bronchioles–through which air passes to and from the alveoli. See Small airways. . He holds a BA in Aviation Management and an Associate Degree in Professional Aeronautics. "I am excited about this new opportunity and look forward to building and expanding our maintenance department," Mr. Beitzel said. Steven Santo, Chief Executive Officer, stated, "Mr. Beitzel brings much value to Avantair. We are confident that his 18 years in various management capacities as well as his extensive experience in aircraft maintenance will improve an already outstanding maintenance department." About Avantair Headquartered in Clearwater, FL, Avantair Inc. is the exclusive North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. 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 stand alone fractional operator. The company currently manages a fleet of 32 planes with another 52 Piaggio Avanti IIs on order. It also recently announced an order of 20 Embraer Phenom 100s The Phenom 100 is a Very Light Jet (VLJ) developed by Brazilian aircraft manufacturer Embraer. It has a capacity for 4 passengers in its normal configuration, but it can carry up to 6 passengers if the lavatory is removed. It has a maximum flying range of 1,320 nautical miles. . Avantair, with operations in 5 states and approximately 270 employees, offers private travel solutions for individuals and companies at a fraction of the cost of whole aircraft ownership. FORWARD LOOKING STATEMENTS This press release, and other statements that Avantair contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and , with respect to Avantair's future financial or business performance, strategies and expectations. Forward-looking statements are typically identified by words or phrases such as "trend," "potential," "opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate," "current," "intention," "estimate," "position," "assume," "outlook," "continue," "remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may" and similar expressions. Avantair cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and Avantair assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. In addition to factors previously disclosed in Avantair's filings with the Securities and Exchange Commission (SEC) and those identified elsewhere in this press release, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: general economic and business conditions in the U.S. and abroad, changing interpretations of generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting , changes in market acceptance of the company's products, inquiries and investigations and related litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , fluctuations in customer demand, management of rapid growth, intensity of competition as well as other relevant risks detailed in Avantair's filings with the Securities and Exchange Commission, including its report on Form 10-QSB for the period ended September 30, 2006, its Definitive Proxy Statement Proxy Statement A document containing the information that a company is required by the SEC to provide to shareholders so they can make informed decisions about matters that will be brought up at an annual stockholder meeting. on Schedule 14A, as filed on February 1, 2007 and its Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. filed on March 13, 2007. The information set forth herein should be read in light of such risks. Avantair does not assume any obligation to update the information contained in this press release. Avantair's filings with the SEC, accessible on the SEC's website at http://www.sec.gov, discuss these factors in more detail and identify additional factors that can affect forward-looking statements. |
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