Jet-Alliance Offers Plan for DayJet Eclipse 500s

 - April 2, 2009, 12:17 PM

While various entrepreneurs have tried to buy and resell the 28 Eclipse 500 very light jets that were flown by bankrupt air-taxi firm DayJet, none has succeeded. Now Randall Sanada, chairman of aircraft charter and management firm Jet-Alliance of Westlake Village, Calif., has proposed a new way to market those jets, still owned by UT Finance, a subsidiary of United Technologies. Jet-Alliance plans to offer to sell shares of used DayJet Eclipse 500s to those who placed 60-percent deposits on new Eclipse 500s. “As unsecured creditors,” Sanada said, “there’s really nothing for them except perhaps a small percentage they might recover through litigation. All is lost unless we can come up with an alternative.” Depositors would pay part of their remaining 40 percent in exchange for a share of a DayJet Eclipse. If a depositor paid 60 percent of the $2.15 million price, then by paying 50 percent of the remaining $860,000, he could buy a half share in a used Eclipse 500, although these are not formal Jet-Alliance pricing quotes. Jet-Alliance would manage the jet and place it on its Part 135 certificate to generate revenue.

June 2017
Mitsubishi Aircraft Corp. has restructured the MRJ development program and built one of the best teams in the industry.