Dayjet shutsdown today!
09-19-2008, 03:29 PM
#1
Line Holder
Thread Starter
Joined APC: Dec 2007
Posts: 35
Dayjet shutsdown today!
Heard thru the grapevine that Dayjet shutdown its entire operation today.
Can anyone confirm?
Can anyone confirm?
09-19-2008, 03:51 PM
#3
Gets Weekends Off
Joined APC: Feb 2005
Position: 737 Capt
Posts: 219
It's official.......
DayJet Discontinues Passenger Operations
Global Financial Crisis Grounds World's First "Per-Seat, On-Demand" Jet Service
BOCA RATON, Fla., Sep 19, 2008 (BUSINESS WIRE) -- DayJet Services, LLC, the world's first operator of "Per-Seat, On-Demand" jet service, today announced that it has ceased jet services, pending further notice. The company today eliminated most employee positions. With the discontinuation of jet services and cancellation of all flights, DayJet is unable to honor any customer reservations.
This shutdown is a direct consequence of the company's inability to arrange critical financing in the midst of the current global financial crisis. The company's operations have also suffered as a result of Eclipse Aviation's failure to install missing equipment or functionality or repair agreed technical discrepancies in accordance with the terms of DayJet's aircraft purchase contract.
"We deeply regret the disruption and hardship to customers, suppliers and employees caused by this unexpected shutdown of commercial operations," said DayJet founder Ed Iacobucci. "Twelve months ago our team launched a new regional transportation model. During the past year, we have demonstrated, beyond a reasonable doubt, that customers will sign-up, purchase, and become frequent users of this new service -- the DayJet 'Per-Seat, On-Demand' model works. It is unfortunate that these developments have come at the same time our nation has fallen into the most serious capital crisis of our lifetime. Regrettably, without access to growth capital, we have no choice but to discontinue operations."
Iacobucci has stepped down as DayJet President and CEO but continues to serve as Chairman of the Board of Directors. John Staten has been named interim CEO with responsibility for managing the affairs of the company during the next phase of operations. Staten has served as DayJet CFO and Senior Vice President of Operations for the past six years.
Additional information about DayJet's shutdown is available at www.dayjet.com.
About DayJet
DayJet was founded in 2002 to provide direct, on-demand air transportation between secondary regional markets using a new generation of very light jet (VLJ) aircraft and its own real-time operations system. Plagued by three years of delayed aircraft deliveries, DayJet finally launched the world's first "Per-Seat, On-Demand" jet service in October 2007 amidst much anticipation. At this time, DayJet was among the best capitalized pre-operational air carriers in U.S. history and the first 100% all-digital operator.
Since service launch, DayJet has built a growing membership base of more than 2,400 regional travelers. The company has flown over 9,000 segments totaling more than one million miles -- all while achieving an industry-leading 95% on-time performance record and a 93% customer satisfaction rating. DayJet also grew its "Per-Seat, On-Demand" service network from five initial destinations to more than 60 communities across the Southeast -- filling in the regional transportation gaps left from the airlines' drastic service reductions (especially to small and medium-sized communities).
In recognition for its pioneering work, DayJet signed a five-year agreement with the FAA in June to accelerate the deployment of NextGen technologies to transform our National Airspace System (NAS).
DayJet's "Per-Seat, On-Demand" business jet serviceis operated by DayJet Corporation's wholly owned subsidiary, DayJet Services, LLC, an air carrier registered with the Department of Transportation and the holder of an on-demand air carrier certificate from the Federal Aviation Administration (FAA) authorizing operations under Part 135 of the FAA's regulations under Title 49, Subtitle VII, of the United States Code.
DayJet(TM) DayPort(TM) DayBase(TM) are trademarks of DayJet Corporation. All other trademarks and registered trademarks are property of their respective owners.
DayJet Discontinues Passenger Operations
Global Financial Crisis Grounds World's First "Per-Seat, On-Demand" Jet Service
BOCA RATON, Fla., Sep 19, 2008 (BUSINESS WIRE) -- DayJet Services, LLC, the world's first operator of "Per-Seat, On-Demand" jet service, today announced that it has ceased jet services, pending further notice. The company today eliminated most employee positions. With the discontinuation of jet services and cancellation of all flights, DayJet is unable to honor any customer reservations.
This shutdown is a direct consequence of the company's inability to arrange critical financing in the midst of the current global financial crisis. The company's operations have also suffered as a result of Eclipse Aviation's failure to install missing equipment or functionality or repair agreed technical discrepancies in accordance with the terms of DayJet's aircraft purchase contract.
"We deeply regret the disruption and hardship to customers, suppliers and employees caused by this unexpected shutdown of commercial operations," said DayJet founder Ed Iacobucci. "Twelve months ago our team launched a new regional transportation model. During the past year, we have demonstrated, beyond a reasonable doubt, that customers will sign-up, purchase, and become frequent users of this new service -- the DayJet 'Per-Seat, On-Demand' model works. It is unfortunate that these developments have come at the same time our nation has fallen into the most serious capital crisis of our lifetime. Regrettably, without access to growth capital, we have no choice but to discontinue operations."
Iacobucci has stepped down as DayJet President and CEO but continues to serve as Chairman of the Board of Directors. John Staten has been named interim CEO with responsibility for managing the affairs of the company during the next phase of operations. Staten has served as DayJet CFO and Senior Vice President of Operations for the past six years.
Additional information about DayJet's shutdown is available at www.dayjet.com.
About DayJet
DayJet was founded in 2002 to provide direct, on-demand air transportation between secondary regional markets using a new generation of very light jet (VLJ) aircraft and its own real-time operations system. Plagued by three years of delayed aircraft deliveries, DayJet finally launched the world's first "Per-Seat, On-Demand" jet service in October 2007 amidst much anticipation. At this time, DayJet was among the best capitalized pre-operational air carriers in U.S. history and the first 100% all-digital operator.
Since service launch, DayJet has built a growing membership base of more than 2,400 regional travelers. The company has flown over 9,000 segments totaling more than one million miles -- all while achieving an industry-leading 95% on-time performance record and a 93% customer satisfaction rating. DayJet also grew its "Per-Seat, On-Demand" service network from five initial destinations to more than 60 communities across the Southeast -- filling in the regional transportation gaps left from the airlines' drastic service reductions (especially to small and medium-sized communities).
In recognition for its pioneering work, DayJet signed a five-year agreement with the FAA in June to accelerate the deployment of NextGen technologies to transform our National Airspace System (NAS).
DayJet's "Per-Seat, On-Demand" business jet serviceis operated by DayJet Corporation's wholly owned subsidiary, DayJet Services, LLC, an air carrier registered with the Department of Transportation and the holder of an on-demand air carrier certificate from the Federal Aviation Administration (FAA) authorizing operations under Part 135 of the FAA's regulations under Title 49, Subtitle VII, of the United States Code.
DayJet(TM) DayPort(TM) DayBase(TM) are trademarks of DayJet Corporation. All other trademarks and registered trademarks are property of their respective owners.
09-19-2008, 06:13 PM
#5
Gets Weekends Off
Joined APC: Oct 2006
Posts: 231
They should just ask the government to bail them out.
09-19-2008, 06:51 PM
#6
Self Employed.
Joined APC: May 2005
Position: Corporate Pilot
Posts: 7,119
Timing
Timing is everything. They just picked the wrong time to start a business.
Bad Luck,
Skyhigh
Bad Luck,
Skyhigh
Thread
Thread Starter
Forum
Replies
Last Post
