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Avantair, Inc. (Avantair) is engaged in the sale and management of fractional ownerships of professionally piloted aircraft for personal and business use. During the fiscal year ended June 30, 2008 (fiscal 2008), Avantair operated 49 aircrafts. The Company also provides aircraft maintenance, concierge and other services to customers and services to the Avantair fleet from hangars and office locations in Clearwater, Florida, Camarillo, California and Caldwell, New Jersey. The Company presently sources all of its aircraft from a single manufacturer, Piaggio America, Inc. In fiscal 2008, the Company’s fleet consisted of 49 aircraft, of which approximately 41.3 were fractionalized; 26 shares were available for sale, and five core aircraft operate to provide additional capacity. In fiscal 2008, the fractional aircraft in Avantair’s fleet are Piaggio Avanti P-180 turboprops.(Source: 10-K)