Avantair is renamed as NewCo, announces plan for future

07/10/2013 | AIN Online

Fractional-ownership company Avantair halted operations in late June in need of new financing. The company has taken the working name NewCo and announced its plan to more forward, which includes downsizing to a core group of employees and only 25 aircraft. If it can retain at least 300 of its current 620 shareowners and attract enough financing, it would be rebranded in order to restart operations early next month.

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