“The largest air shuttle operator, DayJet Corp., laid off nearly half its 260 employees this week as it was unable to secure $40 million to expand to a fleet of very light jets serving 20-30 fully-developed markets in the Southeast. DayJet, which is based in Boca Raton, Fla., flies business travelers among 45 smaller cities in Florida, Georgia and Alabama. The VLJ-air taxi model is one that has generated heavy press coverage and some skepticism. DayJet targets business travelers who may not be keen to drive three-five hours each way on a business trip but also love to avoid big airline fares and hubs. The 100 job cuts were spread throughout the company, which said in a statement to workers that “given the current state of the U.S. capital markets, the timing of our planned financing could not have been worse.”
“The largest air shuttle operator, DayJet Corp., laid off nearly half its 260 employees this week as it was unable to secure $40 million to expand to a fleet of very light jets serving 20-30 fully-developed markets in the Southeast. DayJet, which is based in Boca Raton, Fla., flies business travelers among 45 smaller cities in Florida, Georgia and Alabama. The VLJ-air taxi model is one that has generated heavy press coverage and some skepticism. DayJet targets business travelers who may not be keen to drive three-five hours each way on a business trip but also love to avoid big airline fares and hubs. The 100 job cuts were spread throughout the company, which said in a statement to workers that “given the current state of the U.S. capital markets, the timing of our planned financing could not have been worse.”
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