Aspen Executive Air (AEXJet), an ARG/US Platinum-rated charter operator, voluntarily filed for Chapter 11 bankruptcy protection last week in the U.S. Bankruptcy Court, District of Delaware. The petition lists up to $100 million in liabilities, with more than 200 creditors.
Charter and Fractional » Charter
News and issues concerning the aviation charter industry and markets, including company announcements, regulations, new developments and labor issues.
When Kenny Dichter and a buddy from college first had the idea for Marquis Jet, the travel card program that sells time aboard NetJets business jets in 25-hour increments, “We had a vision that this business could be a very big one,” he said.
But the pair didn’t exactly have aviation flowing in their veins, as they say, making Marquis Jet’s overnight success story all the
Per-seat, on-demand carrier DayJet on September 5 received its Part 135 air charter certificate to operate its fleet of 12 Eclipse 500 very light jets. The company began a gradual rollout of its service two weeks later from “DayPorts” in the Florida cities of Boca Raton, Gainesville, Lakeland, Pensacola and Tallahassee. DayJet currently has 190 employees, approximately 30 of whom are pilots, according to CFO John Staten.
On Thursday afternoon, Pogo Jet filed a registration statement with the Securities and Exchange Commission for an initial public stock offering to raise money to launch Pogo’s very light jet air charter service. In the filing, Pogo Jet said that it is negotiating the purchase of 25 Eclipse 500s and plans to begin operations in the first quarter of 2009 from a base at Westover Metropolitan Airport in Chicopee, Mass.
The FAA has given Boca Raton, Fla.-based DayJet the green light to use Eclipse 500 very light jets (VLJs) for its “per-seat, on-demand” service, the company announced yesterday. The addition of the five-seat twinjets to DayJet’s Part 135 operating certificate “is the culmination of more than five years of dedicated work to develop the world’s first fully automated fleet operations system,” said DayJet president and CEO Ed Iacobucci.
AMI Jet Charter CEO Charles McLaren confirmed to AIN today that TAG Holdings might be interested in selling some of its stake in the charter company. TAG Holdings, based in Switzerland, owns management company TAG Aviation and a minority portion of AMI Jet Charter of Burlingame, Calif. Although the FAA just announced that it is beginning a series of operational control “special emphasis inspections” of all U.S.
Charter/management company North American Jet (NAJ) flew the first revenue passenger flight in an Eclipse 500 VLJ on August 17. The trip originated at the company’s base at Chicago Executive Airport (formerly Palwaukee), carrying two pilots and two passengers to Martin State Airport in Baltimore, at 33,000 feet in Eclipse 500 S/N 18, according to NAJ president Ken Ross.
While debate over the future of the war in Iraq rages among Congress, the White House and the populace, several organizations and individuals in the business aviation industry have been quietly providing support to servicemen wounded in the conflict. One major effort involves Richard Santulli, creator of the fractional ownership business model and the chairman and CEO of industry leader NetJets.
VLJ air-taxi start-up DayJet of Delray Beach, Fla., announced today that it had secured $140 million in debt financing, which it will use to buy its fleet of Eclipse 500s. Previous rounds of private-equity financing had raised $68 million, bringing total financing to $208 million. DayJet founder and CEO Ed Iacobucci said last month at a seminar in New York that raising money for the company has been the hardest thing he’s had to do.
Even though “ATXA” looks as if it belongs on the New York Stock Exchange ticker, add it to your lexicon of GA lobbying groups. The Air Taxi Association (ATXA) is open for business.