The recent collapse of Avantair caught many of its owners by surprise, but with so many tell tale signs of trouble, it really shouldn’t have. The few fractional companies that have failed shared pretty distinct warning signs…for those who knew what to look for.
In the interest of learning from others’ mistakes, Business Jet Traveler asked a panel of private aviation experts for lessons learned from the demise of Avantair. Shaircraft CEO and attorney, James Butler, emphasized the importance of knowing your fractional co-owners.
Not knowing their identities has been a major stumbling block for Avantair owners trying to make recovery plans for their aircraft. Moreover, says Butler, “if there are aspects of a program [owners] might want to change, they really don’t have the ability to communicate as a group with the provider.”
Butler’s article, “Is Your Fractional Provider Going Under?,” highlights warning signs to look for and steps you can take to protect your investment.