DayJet
Encyclopedia
DayJet was an American
commercial aviation operation that provided on-demand jet travel
using Eclipse 500
Very Light Jet
s. The company began operations in Florida in October 2007 and suspended operations on September 19, 2008.
DayJet had 239 orders for the Eclipse 500, and was expected to place 70 more by 2010. The first delivery of three Eclipse 500 aircraft took place on March 31, 2007.
DayJet founder and CEO Ed Iacobucci
indicated that the company needed an investment of USD
$40M at that time to reach profitability, but that the economic climate did not permit the company to raise that amount. Iacobucci stated that the company had proven that the air taxi operational concept is sound, but that the carrier's fleet needed to be quickly expanded to fifty aircraft to reach profitability.
Despite cutting its fleet, the air carrier announced on 21 May 2008 that they were expanding their service by making two more destinations in Florida
, Jacksonville
and Sarasota
, into hub airports DayJet designates as "DayPorts". In July 2008 both Saint Petersburg/Clearwater and Orlando, Florida were added as hub DayPorts.
DayJet was Eclipse Aviation
's largest customer with a planned eventual delivery of 1,400 aircraft representing a majority of the estimated 2,500 Eclipse 500s on order.
The company indicated that given the current economic climate in the USA it is unlikely that flying operations will be resumed.
The company also announced a change in management on 19 September 2008, stating:
In November 2008 Iacobucci indicated that he was still attempting to raise capital to restart the company and that it would be a smaller, scaled back operation. He also stated at that time that there were a number of problems that caused the company to cease operations, but that the key issue was the credit crisis.
In analyzing DayJet's situation Iacobucci said that problems with Eclipse had contributed, but that the Eclipse 500 was the best choice for DayJet when it was starting up due to its purchase price and projected maintenance costs. Using the Eclipse 500 also permitted DayJet to start with a single aircraft type for the whole fleet. Iacobucci indicated in November 2008 that he was still pursuing investors, but would not be committing more of his own money, having already invested USD$
20 million.
Iacobucci did not place blame for the company's problems on the choice of the Eclipse 500, saying, "It’s not the flippin’ airplane".
announced in October 2008 that they were acting as "the exclusive broker" for the sale of the existing 28 DayJet aircraft.
Canadian light aircraft fractional aircraft company OurPlane bid on the entire DayJet fleet of aircraft, offering more than "$500,000 each but less than $1.5 million" each. OurPlane operated a fleet of Cirrus SR22
aircraft and one current Eclipse 500 until its bankruptcy in October 2010. OurPlane had planned to offer its customers one-quarter shares in the Eclipse 500s for less than USD$449,000.
OurPlane did not complete the purchase of the DayJet fleet and the aircraft became the property of Eclipse Aerospace
, the new company that purchased the assets of Eclipse Aviation from Chapter 7 bankruptcy in August 2009. Eclipse Aerospace indicated that they intend to upgrade and sell the aircraft.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
commercial aviation operation that provided on-demand jet travel
Air taxi
An air taxi is an air charter passenger or cargo aircraft which operates on an on-demand basis.-Regulation:In the United States, air taxi and air charter operations are governed by Part 135 of the Federal Aviation Regulations , unlike the larger scheduled air carriers which are governed by more...
using Eclipse 500
Eclipse 500
The Eclipse 500 is a small six-seat business jet aircraft manufactured by Eclipse Aviation.Eclipse 500 became the first of a new class of Very Light Jet when it was delivered in late 2006...
Very Light Jet
Very Light Jet
A very light jet, entry-level jet or personal jet, previously known as a microjet, is a category of small jet aircraft approved for single-pilot operation, seating 4-8 people, with a maximum take-off weight of under...
s. The company began operations in Florida in October 2007 and suspended operations on September 19, 2008.
DayJet had 239 orders for the Eclipse 500, and was expected to place 70 more by 2010. The first delivery of three Eclipse 500 aircraft took place on March 31, 2007.
May 2008 financial problems
On 6 May 2008 DayJet announced a scaling back of its operations and the laying off of 100–160 employees in all segments of the company. The company also sold or leased out 16 of the 28 Eclipse 500s it owned.DayJet founder and CEO Ed Iacobucci
Ed Iacobucci
Edward E. Iacobucci was the leader of the IBM OS/2 Design Team. In 1989, he founded the US software company Citrix Systems. He was also the former president and CEO of DayJet, an on-demand regional jet travel service, and was a member of the SCO Group's Board of Directors from 2000.Ed Iacobucci...
indicated that the company needed an investment of USD
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
$40M at that time to reach profitability, but that the economic climate did not permit the company to raise that amount. Iacobucci stated that the company had proven that the air taxi operational concept is sound, but that the carrier's fleet needed to be quickly expanded to fifty aircraft to reach profitability.
Despite cutting its fleet, the air carrier announced on 21 May 2008 that they were expanding their service by making two more destinations in Florida
Florida
Florida is a state in the southeastern United States, located on the nation's Atlantic and Gulf coasts. It is bordered to the west by the Gulf of Mexico, to the north by Alabama and Georgia and to the east by the Atlantic Ocean. With a population of 18,801,310 as measured by the 2010 census, it...
, Jacksonville
Jacksonville, Florida
Jacksonville is the largest city in the U.S. state of Florida in terms of both population and land area, and the largest city by area in the contiguous United States. It is the county seat of Duval County, with which the city government consolidated in 1968...
and Sarasota
Sarasota, Florida
Sarasota is a city located in Sarasota County on the southwestern coast of the U.S. state of Florida. It is south of the Tampa Bay Area and north of Fort Myers...
, into hub airports DayJet designates as "DayPorts". In July 2008 both Saint Petersburg/Clearwater and Orlando, Florida were added as hub DayPorts.
DayJet was Eclipse Aviation
Eclipse Aviation
Eclipse Aviation Corporation was the Albuquerque, New Mexico-based manufacturer of the Eclipse 500 very light jet and also at one time proposed developing the Eclipse 400 single-engined jet....
's largest customer with a planned eventual delivery of 1,400 aircraft representing a majority of the estimated 2,500 Eclipse 500s on order.
September 2008 suspension of operations
The company announced the following news on 19 September 2008:The company indicated that given the current economic climate in the USA it is unlikely that flying operations will be resumed.
The company also announced a change in management on 19 September 2008, stating:
In November 2008 Iacobucci indicated that he was still attempting to raise capital to restart the company and that it would be a smaller, scaled back operation. He also stated at that time that there were a number of problems that caused the company to cease operations, but that the key issue was the credit crisis.
In analyzing DayJet's situation Iacobucci said that problems with Eclipse had contributed, but that the Eclipse 500 was the best choice for DayJet when it was starting up due to its purchase price and projected maintenance costs. Using the Eclipse 500 also permitted DayJet to start with a single aircraft type for the whole fleet. Iacobucci indicated in November 2008 that he was still pursuing investors, but would not be committing more of his own money, having already invested USD$
United States dollar
The United States dollar , also referred to as the American dollar, is the official currency of the United States of America. It is divided into 100 smaller units called cents or pennies....
20 million.
Iacobucci did not place blame for the company's problems on the choice of the Eclipse 500, saying, "It’s not the flippin’ airplane".
Sale of DayJet fleet
Eclipse AviationEclipse Aviation
Eclipse Aviation Corporation was the Albuquerque, New Mexico-based manufacturer of the Eclipse 500 very light jet and also at one time proposed developing the Eclipse 400 single-engined jet....
announced in October 2008 that they were acting as "the exclusive broker" for the sale of the existing 28 DayJet aircraft.
Canadian light aircraft fractional aircraft company OurPlane bid on the entire DayJet fleet of aircraft, offering more than "$500,000 each but less than $1.5 million" each. OurPlane operated a fleet of Cirrus SR22
Cirrus SR22
The Cirrus SR22 is a single-engine, four-seat, composite aircraft, built by Cirrus Aircraft starting in 2001. It is a more powerful version of the Cirrus SR20, with a larger wing, higher fuel capacity, and a 310 horsepower engine...
aircraft and one current Eclipse 500 until its bankruptcy in October 2010. OurPlane had planned to offer its customers one-quarter shares in the Eclipse 500s for less than USD$449,000.
OurPlane did not complete the purchase of the DayJet fleet and the aircraft became the property of Eclipse Aerospace
Eclipse Aerospace
Eclipse Aerospace is an American aircraft maintenance and upgrade company, with the expressed intention of becoming a future aircraft manufacturer if and when the Eclipse 500 is returned to production...
, the new company that purchased the assets of Eclipse Aviation from Chapter 7 bankruptcy in August 2009. Eclipse Aerospace indicated that they intend to upgrade and sell the aircraft.
DayJet Technologies
At the time of DayJet's bankruptcy, a group of investors took control of DayJet Technologies, the technology subsidiary, and are operating it as a private technology company.External links
- DayJet Corporation, official website archives