Avantair sells 18 Embraer Phenom 100 to Executive AirShare

Avantair has entered into a purchase agreement with Executive AirShare Corporation pursuant to which Executive AirShare will purchase 18 of Avantair’s 20 Embraer Phenom 100 aircraft for cash proceeds of approximately $3.2 million. The 18 Embraer Phenom 100 aircraft will join Executive AirShare’s existing order of 10 Phenom 100’s, augmenting the Company’s strong presence in the Central U.S. region in the Very Light Jet (VLJ) category, with minimal associated repositioning costs. Under the terms of the agreement, Executive AirShare has the option to purchase the remaining two Embraer Phenom 100 aircraft.