Avantair stops flying as company seeks new finance

Fractional company Avantair ceased flying earlier this week and furloughed pilots, while the fractional jet company seeks alternate financing.

On 26 June 2013, Avantair commenced employee furloughs as the company addresses liquidity issues and started to seek alternative financing arrangements that it hopes will enable the company to resume operations as quickly and efficiently as possible.

The company also had a number of other legal actions recently taken against it, which gave the company little choice but to stop flying.

Avantair has a fleet of Piaggio P180 Avanti turboprop aircraft.