Business & GA

Florida-based air taxi start-up company DayJet, which is to acquire hundreds of Eclipse 500s, has obtained $50 million in capital after completing its third round of private equity financing, bringing its financing to $68 million.

DayJet president and chief executive Ed Iacobucci says the latest funding will primarily be used for operating capital and infrastructure, and is not contingent on Eclipse 500 delivery schedules.

Iacobucci says he requires eight to 10 aircraft to begin operations, and hopes to achieve this total in the second quarter. A profit will require "quite a bit more than 10" aircraft, he adds, which he plans to have in place later this year.