Avantair Revenues Climb by Nearly 10 Percent

Fractional-share provider Avantair’s revenues grew by 9.9 percent, to $40.1 million, in its Fiscal Year 2012 third quarter, compared with the same period last year. Revenue-generating flight hours climbed 6.1 percent, to 11,327. Net loss attributable to shareholders was $1.1 million, down from $1.3 million during the same quarter last year. Non-Gaap adjusted Ebidta grew 81 percent to $1.7 million, up from $940,000.