Latest Round Places “Per-Seat, On-Demand” Pioneer Among Best Capitalized Pre-Launch Air Carriers in U.S. Aviation History

DELRAY BEACH, Fla. – MARCH 6, 2007 – DayJet™ today 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. Combined with the proceeds of earlier funding rounds, this transaction places the company among the best capitalized pre-operational passenger air carriers in U.S. aviation history and the largest in the on-demand sector.

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, Inc. 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 finalize 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 ‘Per-Seat, On-Demand’ jet 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.”

About “Per-Seat, On-Demand” Jet Service
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. “Per-Seat” means customers only pay for the seat(s) booked, not the entire aircraft. “On-Demand” means customers fly only on their individually negotiated schedules. The company will never publish schedules or operate on fixed schedules. Instead, DayJet flights will be uniquely tailored to each customer’s needs and priced at a modest premium to equivalent regional full-fare coach airfares.

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. Thanks to the convergence of innovative new technologies, DayJet turns these short trips into daytrips, giving professionals greater diversity in travel options and greater ability to manage their time. DayJet combines the scalability and efficiency of the Eclipse 500 very light jet (VLJ) with its proprietary technical innovations in real-time optimization to make “Per-Seat, On-Demand” jet service a practical and affordable regional travel option for a much broader range of people and organizations.

About DayJet
DayJet is the pioneer of a new type of regional travel: “Per-Seat, On-Demand” jet service that is uniquely tailored to each customer’s individual schedule and priced at a modest premium to full-fare coach airfares. Headquartered in Delray Beach, Florida, DayJet has developed this new industry’s first real-time operations system. Combined with the speed and efficiency of Eclipse 500 very light jet (VLJ) aircraft, DayJet has created the next major advance in corporate productivity and regional economic development. For more information, visit www.dayjet.com.

DayJet’s on-demand jet services will be operated by DayJet Corporation’s wholly-owned subsidiary, DayJet Services, LLC, a registered air taxi operator under Part 298 of the DOT’s regulations and the holder of an FAA Air Carrier Certificate authorizing on-demand operations under Part 135 of the FAA’s regulations under Title 49, Subtitle VII, of the United States Code (Transportation Code), and any statements made in connection therewith are subject to the receipt of operating authority for the Eclipse 500 aircraft from the FAA under the Transportation Code.

Original Release

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