Florida-based air taxi operator DayJet has been forced to lay off 100 employees following problems raising a planned $40 million capital injection.
DayJet president Ed Iacobucci says 30-50 aircraft are needed “to reach critical scale”, but “this required a $40m infusion of operating capital in the first quarter of 2008".
He adds: “The timing of our planned financing could not have been worse.”
DayJet has been beset with troubles since its launch in October 2007, caused by problems with avionics and other delays to the Eclipse 500 delivery schedule.
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Source: Flight Daily News
