Air Taxi Company Closes New Round Of Financing | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 04.23.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.23.14 **
** Airborne 04.21.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.21.14 **
** Airborne 04.18.14--CLICK HERE! ** HD iPad-Friendly Version--Airborne 04.18.14 **

Thu, Nov 06, 2008

Air Taxi Company Closes New Round Of Financing

Linear Air Also Launches Aircraft Management Program

Bucking current economic trends, air taxi provider Linear Air announced this week the close of $1.3 million in financing, which includes new capital and debt.

"This new financing was pivotal for us to maintain market leadership during the current economic environment," said President and CEO, William Herp. "While conditions for fundraising at this time are not ideal, we have a group of investors whose commitment to our success hasn't waivered and remains strong."

With the new financing, Linear Air is poised to launch its aircraft management program designed to assist those who have very light jet aircraft in the Northeast and Mid-Atlantic regions, with future potential for national service. The company's new VLJ Aircraft Management Program will assist those with VLJ aircraft who desire access to aircraft maintenance, pilot training and the potential for higher charter revenues.

The company says the program is most beneficial for Eclipse 500 VLJ aircraft owners... though it applies to a broad base of VLJ owners and aircraft types.

"Linear Air is ideally positioned for an Aircraft Management Program within the VLJ space due to our relationships with aircraft manufacturers and our in-house training program," says Herp. "Our ability to ease the pain for others who operate similar aircraft is increasing, especially as uncertainty continues to surround the Eclipse 500 manufacturer, Eclipse Aviation Corporation."

Under Linear Air's VLJ Aircraft Management Program, owners receive 85% of charter revenue, cover all related costs and pay a $2,500 monthly management fee to cover overhead. Linear Air offers owners higher aircraft utilization and higher cost offset through the company's large database of customers without the hassle of handling the transactions.

Based in Concord, MA, Linear Air provides point-to-point air taxi service with Eclipse 500 VLJs, and Cessna Grand Caravan turboprops.

FMI: www.linearair.com

Advertisement

More News

Classic Aero-TV: Aero-Statesman Phil Boyer – Representing The Aviation Community

Retired AOPA President Still Understands What An Association Must Do To Serve An Embattled Industry Originally WebCast October 18, 2012: Its been nearly four years since Phil Boyer>[...]

AD: Ballonbau Wörner GmbH Balloons

AD NUMBER: 2014-07-10 PRODUCT: Ballonbau Wörner GmbH Models NL-280/STU, NL-380/STU, NL-510/STU, NL-640/STU, NL-840/STU, and NL-1000/STU balloons.>[...]

Airshow Pilot Bails Out After Catastrophic Aircraft Failure

Planning Ahead And Staying Safe Saves A Professional Airshow Pilot Dan Marcotte describes himself on his website as being determined and driven with a sense of vision. His adventur>[...]

ANN FAQ: Share Aero-News With Your Friends

Send Them A Story -- We Don't Mind! Do you need another set of eyes to see that story you can't believe Jim just wrote? Want to spread Hognose's unique wisdom and perspective to th>[...]

AD: Centrair Gliders

AD NUMBER: 2014-07-08 PRODUCT: Centrair Model 101, 101A, 101AP, and 101P gliders.>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC