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 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.
Read more about this topic: Day Jet
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