DayJet Secures $140 Million More in Launch Financing - $200 Million To Date

[On Your Six]

Now, if they could only use some of that to pay their pilots more - $50K per year in Florida just won't cut it... Evidently they are attracting pilots even at that low salary level. Read below:

DayJet Reaches Major Financial Milestone in Preparation for Service Launch
Tuesday August 7, 9:38 am ET

Secures $140 Million in Debt Financing

DELRAY BEACH, Fla.--(BUSINESS WIRE)--DayJet Corporation announced today that it has closed debt facilities totaling $140 million for the acquisition of its fleet of Eclipse 500(TM) very light jets (VLJs). The facilities include senior debt on the aircraft and financing of pre-delivery deposits. Combined with previous rounds of private equity financing, DayJet has raised more than $200 million to date, placing it among the best capitalized pre-operational passenger air carriers in American aviation history.


"Securing this initial debt facility is a significant milestone for DayJet, as it enables us to continue the uninterrupted growth of the world's first commercial VLJ fleet," said Ed Iacobucci, DayJet president and CEO. "This new fleet, in combination with our continued success in recruiting and training a team of exceptional aviation professionals, keeps DayJet on target to launch commercial operations in the coming weeks."

About DayJet
DayJet is the pioneer of a new type of regional travel: "Per-Seat, On-Demand" jet service that is uniquely tailored to each customer's individual schedule and priced starting at a modest premium to full-fare coach airfares. Headquartered in Boca Raton, Florida, DayJet has developed this new industry's first real-time operations system. Combined with the speed and efficiency of Eclipse 500 very light jet (VLJ) aircraft, DayJet has created the next major advance in corporate productivity and regional economic development. For more information, visit www.dayjet.com.
DayJet's "Per-Seat, On-Demand" jet service will be operated by DayJet Corporation's wholly-owned subsidiary, DayJet Services, LLC, a registered air taxi operator under the DOT's regulations and the holder of an FAA Air Carrier Certificate authorizing on-demand operations under Part 135 of the FAA's regulations under Title 49, Subtitle VII, of the United States Code (Transportation Code), and any statements made in connection therewith are subject to the receipt of operating authority for the Eclipse 500 aircraft from the FAA under the Transportation Code.
DayJet(TM) is a trademark of DayJet Corporation. All other trademarks and registered trademarks are property of their respective owners.

 

[johnsonrod]

That's a lot of cash. Wow - I guess you can expect hiring to ramp up pretty soon. Those Eclipses will be swarming Florida and the Southeast by the end of the year. Let's hope this experiment works...

 

[dogismycopilot]

I went to an interview a while back, looks like they have thought about most every contigency and have a very specific and defined customer base. We'll see if it is what they expect it to be.

As far as pilot pay, it seemed adequate for the crowd at my interview. Not one applicant was under age 50 and I would suspect several were over 60. These gentlemen were looking for a job to do so they could supplement their airline pensions and live in FL. Bringing home 50k while getting away from the wife and flying a neat little jet; and you don't even have to give up golf on Saturday. Sounds like the life.

Single-income with a wife and kids? Might be hard to make ends meet (even in GNV). Benefits were pretty good, and they were offering stock options.