Fri, Sep 23, 2005
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."
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