Boasting that it is now among the best capitalized pre-launch air carriers in U.S. aviation history, DayJet 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.
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, 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 complete 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 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.”
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. 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, said Dayjet, adding its new service will turn short-haul trips into daytrips, giving professionals greater diversity in travel options and greater ability to manage their time.