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The sun sets upon DayJet.....

QOL_is_great:)

What the?
Joined
Apr 11, 2008
Posts
311
Total Time
>6500

I guess it was only a matter of time until the last door closed for DayJet. Really sorry for you guys who gave it a shot and rolled the dice working for DayJet. Good luck to you all and really hope you find work shortly.


Lights Out for DayJet[FONT=Verdana, Arial, Helvetica, sans-serif]
[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif]Per-seat, on-demand very light jet (VLJ) air-taxi firm DayJet last Friday filed for Chapter 7 bankruptcy (liquidation), just four days after company founder Ed Iacobucci expressed doubt at a VLJ air-taxi conference that the Boca Raton, Fla.-based charter operator would be resurrected. The company ceased operations on September 19 and its 28 Eclipse 500s were subsequently repossessed by Eclipse Aviation and United Technologies Finance, a sister company to Eclipse engine supplier Pratt & Whitney Canada. DayJet leaves behind a 60-page list of creditors, apparently mostly customers who used the per-seat, on-demand service. The bankruptcy documents, filed in the Delaware District U.S. Bankruptcy Court, list DayJet Corporation, DayJet Leasing LLC and DayJet Services LLC as debtors, with $3,277,180.47 in assets and $3,871,666.51 in liabilities. The largest debts owed include $1.2 million (listed as a disputed amount) to Eclipse; $574,000 to WingedFoot Aviation Holdings, a charter company owned by Iacobucci and holder of DayJet’s Part 135 charter certificate; nearly $370,000 to Avcard; and $312,000 to Eclipse’s training division, among others. According to minutes of the last board meeting included in the bankruptcy filing documents, DayJet executives tried several last-ditch efforts to save the company[/FONT][FONT=Verdana, Arial, Helvetica, sans-serif].
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jonjuan

Honey Ryder
Joined
Feb 26, 2004
Posts
4,155
Total Time
3,000+
Why is this here?
 

Publishers

Well-known member
Joined
Sep 20, 2002
Posts
1,736
Total Time
1500
They shut dowm operations but continued operating the company without declaring bankruptcy while Ed continued to seek new funding for partial start up and selling the technology.
 

Igor

Active member
Joined
Jan 20, 2006
Posts
40
Total Time
7000
So much for the VLJs blocking the sun with airplanes. but still it is sad. At least they had the guts to try.
 
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