updated 2/3/2011 5:17:35 PM ET 2011-02-03T22:17:35

CLEARWATER, Fla., Feb. 3, 2011 (GLOBE NEWSWIRE) -- Avantair, Inc. (OTCBB:AAIR), the industry leader of fractional aircraft ownership and flight hour time cards in the light jet cabin category and the only publicly traded stand-alone private aircraft operator, today announced that it will release its financial results for the fiscal 2011 second quarter ended December 31, 2010, after the stock market closes on Thursday, February 10, 2011.

Chief Executive Officer Steven Santo, Chief Financial Officer Richard Pytak and Chief Operating Officer Kevin Beitzel will hold a conference call with the financial community on Thursday, February 10, at 5:00 p.m. Eastern time to review the Company's financial results and provide an update on business developments.

Interested parties may participate in the conference call by dialing 1-877-941-8418 (1-480-629-9809 for international callers). When prompted, ask for the "Avantair, Inc. Fiscal 2011 Second Quarter Earnings Conference Call." A telephonic replay of the conference call may be accessed approximately two hours after the call through February 24, 2011, by dialing 1-800-406-7325 (1-303-590-3030 for international callers). The replay access code is 4406391#. The conference call will be webcast simultaneously on the Avantair, Inc. website at www.avantair.com under the Investors section. The webcast replay will be archived for 12 months.

About Avantair

Avantair, the sole North American provider of fractional shares, flight time cards and Axis Club Membership in the Piaggio Avanti aircraft, and the only publicly traded stand-alone private aircraft operator, is headquartered in Clearwater, FL, with approximately 450 employees. The Company offers private travel solutions for individuals and businesses traveling within its service area, which includes the continental United States, Canada, the Caribbean and Mexico, at a fraction of the cost of whole aircraft ownership. The Company currently manages a fleet of 55 aircraft, with another 52 Piaggio Avanti aircraft on order through 2013. For more information about Avantair, please visit: www.avantair.com .

CONTACT: The Piacente Group, Inc.
         Brandi Floberg
         212-481-2050
         aair@tpg-ir.com

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