New Airline Says Solid Funding, High Safety Standards Help Expedite Intensive Evaluations

Eos, claiming to be the first airline focused since inception exclusively on the transatlantic business traveler, Thursday said it has received its air carrier certification from the FAA. Additionally, the US Department of Transportation (DOT) has given Eos the authority to begin accepting reservations for its daily roundtrip service between New York John F. Kennedy International Airport (JFK) and London Stansted (STN). Eos' inaugural flight is currently scheduled for November 1.

New entrant airlines must satisfy two governmental agencies: the FAA, which regulates safety; and the DOT, which assesses an airline's financial fitness. Today's announcement is the culmination of an intense, eight-month safety review by the FAA. Eos navigated the safety review, an intense and challenging process, with little delay. Reflecting its strong institutional investor base and sound business model, Eos is being cleared to operate multiple transatlantic flights each day.

"With our seasoned management team, outstanding financial backing and dedication to the highest standards of safety, Eos was able to move expeditiously through the FAA and DOT certification process," said David Spurlock, founder and chief executive officer of Eos. "Eos' veteran management team brings unprecedented experience in customer service and airline operations to the market, and we are backed by top private equity firms Golden Gate Capital, Sutter Hill Ventures, and Maveron.

In addition to raising $87 million in equity capital, Eos also received initial aircraft lease financing of $100 million from International Lease Finance Corporation. These critical business elements, combined with our unwavering focus on the discerning traveler and our unique in-flight experience, give Eos a solid foundation to build and sustain leadership in the transatlantic air travel market."

FMI: www.eosairlines.com