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DayJet(TM) today announced the receipt of $50 million in capital
resulting from the completion of its third round of private equity
financing. This latest round of investment provides DayJet with the
capital required to launch its innovative "Per-Seat, On-Demand"jet
service in the second quarter this year. Combined with the proceeds of
earlier funding rounds, this transaction places the company among the
best capitalized pre-operational passenger air carriers in U.S.
aviation history and the largest in the on-demand sector.
The majority of Series C securities were placed with new investors
including eight institutions and private equity funds as well as
numerous individuals. The investor group also included some private
equity investors from outside of the United States. Raymond James &
Associates, Inc. served as financial advisor to DayJet, and certain
affiliates of Raymond James also participated as investors in the
offering. The capital raised in this round will be used to finalize
the development of the company's infrastructure and systems, hire and
train the launch teams, and support the roll-out of DayJet's
"Per-Seat, On-Demand" regional flight operations across Florida and
the Southeast.
"This funding is the keystone to the operational launch of our
'Per-Seat, On-Demand' jet service," said Ed Iacobucci, president and
CEO of DayJet. "With the necessary capital now in place, we are just
months away from delivering regional business travelers something they
have never had - accessible and affordable mobility between
difficult-to-reach regional destinations."
About "Per-Seat, On-Demand" Jet Service
DayJet has developed the first "Per-Seat, On-Demand" jet service
that makes the convenience of corporate jet travel broadly available
and affordable for more people and organizations, turning wasted
travel time into valuable business and personal time. "Per-Seat" means
customers only pay for the seat(s) booked, not the entire aircraft.
"On-Demand" means customers fly only on their individually negotiated
schedules. The company will never publish schedules or operate on
fixed schedules. Instead, DayJet flights will be uniquely tailored to
each customer's needs and priced at a modest premium to equivalent
regional full-fare coach airfares.
Until now, taking a regional business trip of 300-600 miles often
meant spending endless hours in a car or taking a connecting flight
through a congested hub, wasting time and productivity. Thanks to the
convergence of innovative new technologies, DayJet turns these short
trips into daytrips, giving professionals greater diversity in travel
options and greater ability to manage their time. DayJet combines the
scalability and efficiency of the Eclipse 500 very light jet (VLJ)
with its proprietary technical innovations in real-time optimization
to make "Per-Seat, On-Demand" jet service a practical and affordable
regional travel option for a much broader range of people and
organizations.
About DayJet
DayJet is the pioneer of a new type of regional travel: "Per-Seat,
On-Demand" jet service that is uniquely tailored to each customer's
individual schedule and priced at a modest premium to full-fare coach
airfares. Headquartered in Delray Beach, Florida, DayJet has developed
this new industry's first real-time operations system. Combined with
the speed and efficiency of Eclipse 500 very light jet (VLJ) aircraft,
DayJet has created the next major advance in corporate productivity
and regional economic development. For more information, visit
www.dayjet.com.
DayJet's on-demand jet services will be operated by DayJet
Corporation's wholly-owned subsidiary, DayJet Services, LLC, a
registered air taxi operator under Part 298 of the DOT's regulations
and the holder of an FAA Air Carrier Certificate authorizing on-demand
operations under Part 135 of the FAA's regulations under Title 49,
Subtitle VII, of the United States Code (Transportation Code), and any
statements made in connection therewith are subject to the receipt of
operating authority for the Eclipse 500 aircraft from the FAA under
the Transportation Code.
DayJet(TM) is a trademark of DayJet Corporation. All other
trademarks and registered trademarks are property of their respective
owners.
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