Avantair, Inc.
Thesis
Avantair is benefiting from a shift in consumer spending habits, as it offers fractional ownership of planes at half the cost of competitors like NetJets. This positions the company well to capture market share from higher-end services as consumers look for more cost-effective options without completely sacrificing quality.
Did it work?
The thesis depended on Avantair capturing market share from higher-cost rivals like NetJets, but the company never achieved this: it ran into financial distress, grounded its fleet, and ceased operations in mid-2013, ultimately filing for bankruptcy and wiping out equity holders. With no price data available, the verdict rests on these thesis events, which decisively invalidate the long case rather than support it. Confidence is low because no price performance was provided and the pitch date is unknown.