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CLEARWATER — Avantair has appointed Bret A. Holmes, 48, as its new chief financial officer, the fractional jet ownership company announced in a filing with the Securities and Exchange Commission. The appointment took effect April 19.
Prior to joining Avantair (symbol: AAIR, recent price: 15 cents), Holmes was chief financial officer of Eleets Transportation Co. from June 2009 through December. Jacksonville-based Eleets, a trucking company that offered brokerage services, abruptly closed its doors in November and has since been ordered into Chapter 7 bankruptcy. The company reportedly had cash flow problems as it attempted to expand its trucking division.
Prior to that, Holmes was CFO of Aslan Development from March 2006 to June 2009 and CFO at Watson Custom Home Builders from October 2004 to March 2006, according to the SEC filing.
Holmes replaces Carla Stucky, who resigned as Avantair's CFO March 14. Stucky had held the post since August, when then CFO, Stephen Wagman, was promoted to president.
The company faced a setback in October, when it stood down its fleet of 54 planes after a part fell off one of its aircraft in flight. Since then, the company has named a new head of safety, quality and compliance, as well as a new chief operating officer. It also restructured its financing and raised $3.5 million in capital in December.
Avantair has been operating at a loss since at least 2009, and lost $1.56 million on $33.40 million in revenue for the quarter ending Dec. 31.
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