AeroVanti Club Announces Fleet Expansion Funding Of Up To $100 Million
ORLANDO—The AeroVanti Club, on Oct. 19 at the NBAA Business Aviation Convention & Exhibition (NBAA-BACE), announced an investment vehicle of up to $100 million led by Lafayette Aircraft Leasing to expand its fleet, with the first addition of an Embraer Phenom 100 already arriving at its headquarters in Sarasota, Florida. The news comes weeks after the company announced a $9.75 Series A funding round.
Though its fleet of nine Piaggio P.180 Avanti aircraft represents the eponymous company name, the fleet also contains three Learjet 31s, a Gulfstream G3 and even an MD 600N helicopter. Details on what aircraft will be added to the fleet under the new investment are still unknown.
“Our mission at AeroVanti is simple: To transform private aviation and modern travel as we know it so that our members can enjoy both luxury and value, never having to sacrifice one at the expense of the other,” said AeroVanti Founder and CEO Patrick Britton-Harr. “We offer our members both convenience and exclusivity, and this investment will fuel our relentless pursuit of this goal.”
Apart from its unconventional P.180 fleet, with an aircraft that features a horizontal stabilizer at the nose and rear-facing turboprop blades, the company has distinguished itself from others by advertising prices much lower than traditional operators. This is mostly due to the lower operating costs of the P.180, which offers the tradeoff of speeds of around 350 kt., along with the fact that the company does not operate as a traditional Part 135 provider.
Instead of being a charter company, AeroVanti is a private aviation membership club governed under Part 91F. Its members have access to a fleet under a time-sharing arrangement at a rate that is the direct reimbursement cost of expenses including fuel, crew, hangar costs and a variety of other expenses that go into aircraft usage. Members do not pay initiation fees and the lowest monthly membership starts at $1,000 for individual sand $1,500 for a family membership.
Launched in 2020, the company has reported growth of 400% to date, and is proud to note that its Piaggio P180 Avantis produces about one-third the carbon footprint of other business aviation aircraft.