Despite current economy, Linear Air secures $1.3 million in financing and gains omentum for a Very Light Jet (VLJ) Aircraft Management Program.
Concord, MA, November 5, 2008 – Linear Air, the leading personal jet air taxi service rovider in the Northeast, announced the close of $1.3 million in financing which ncludes new capital and debt.
With the new financing, Linear Air is poised perfectly to launch its aircraft managementprogram designed to assist those who have very light jet aircraft in the Northeast andMid-Atlantic regions, with future potential for national service. The company’s new VLJAircraft Management Program will assist those with VLJ aircraft who desire access toaircraft maintenance, pilot training and the potential for higher charter revenues. Whilethe program is most beneficial for Eclipse 500 VLJ aircraft owners, the program appliesto a broad base of VLJ owners and aircraft types.
“Linear Air is ideally positioned for an Aircraft Management Program within the VLJspace due to our relationships with aircraft manufacturers and our in-house trainingprogram,” says Herp. “Our ability to ease the pain for others who operate similar aircraft
is increasing, especially as uncertainty continues to surround the Eclipse 500manufacturer, Eclipse Aviation Corporation.”
The VLJ Aircraft Management Program is classic in structure. Owners receive 85% ofcharter revenue, cover all related costs and pay a $2,500 monthly management fee tocover overhead. Linear Air offers owners higher aircraft utilization and higher cost offsetthrough the company’s large database of customers without the hassle of handling thetransactions.
About Linear Air
Linear Air provides point-to-point air taxi service with unprecedented access andaffordability. Based in Concord, Mass., the Linear Air fleet includes Eclipse E500business jets and Cessna Grand Caravan turboprops. Linear Air offers business andleisure travelers access to more than 500 cities in the Northeast and eastern Canada. Linear Air is a FAA-certified part 135 charter operator that maintains a Gold safety ratingfrom ARG/US, the leading independent safety auditor in the aviation industry. For more information, please visit www.linearair.com or call 1-877-2-LINEAR.