Pogo Jet Reveals Deployment Details

AINalerts » December 18, 2007
December 18, 2007, 11:45 AM

In a December 13 amendment to Pogo Jet’s S-1 registration statement for its initial public stock offering, the company provided more information about its planned very light jet (VLJ) charter service. As it has said before, Pogo will use Eclipse 500s in a whole-airplane charter service headquartered at Westover Municipal Airport in Chicopee, Mass. Pogo now plans to begin service in the first quarter of 2009 and should have 25 Eclipse 500s by the end of that year and up to 115 by the end of 2011, according to the filing. The company also stated that it has negotiated the “principal terms of our initial delivery of VLJs” and that it plans to use $46.5 million raised in the IPO to fund part of the purchase deposits, progress payments and delivery payments for the initial Eclipse 500 fleet. Pogo doesn’t intend to enter into agreements with Eclipse for initial airplanes, maintenance, training and spares until after the IPO is done. The company expects to obtain DOT and FAA air carrier certification in the fourth quarter of next year. Pogo plans to fly its Eclipse 500s with two pilots, and Eclipse Aviation will initially provide training until Pogo can obtain its own flight-training device or full-motion simulator to conduct training in-house. The amended SEC filing does not specify when the IPO will take place, but Pogo told AIN it might release the planned IPO date later this week.

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