Paragon Air Express has asked US regulators for 90 days to seek alternative financing after a commitment from Nashville bank failed to materialize.
The lack of financing is forcing the company to freeze plans for the launch of intra-Florida service on beween Naples and Miami using Jetstream 32 aircraft.
Paragon's plan is to operate the Jetstream with nine seats. The company anticipates most of its passengers "will be business travellers connecting to/from the broad array of domestic and foreign air transportation available at Miami".
Naples Municipal Airport now has service from Gulf Coast Airways, which offers non-stop flights to key Westfour days week. Yellow Air Taxi, an on-demand operator, flies between Naples and Fort Lauderdale. Naples is a golfing resort on the west coast of Florida.
Paragon already owns a Cessna 208b Caravan and leases seven more of the all-cargo turboprops for its Part 135 operations.