Wed, Sep 26, 2007
Intends To Add As Many As 24 Planes
ImagineAir has signed a deal with the specialty investment
banking firm RockBridge Capital Partners, Inc. to raise $18.2
million for the addition of as many as 24 aircraft. ImagineAir will
continue to grow its fleet of Cirrus SR22 aircraft and bring the
first of its Eclipse 500 very light jets online, currently
scheduled for delivery in 2008. The financing will include common
equity, senior debt and leasing of the aircraft, and financing of
pre-delivery deposits.
"After seven consecutive months of increasing revenue, securing
this financing will be a significant milestone for ImagineAir. It
will enable us to continue the positive growth of our business
model," said Aaron Sohacki, ImagineAir CEO.
Since revenue operations began in early 2007, ImagineAir has
built its business around its on-demand service -- featuring online
scheduling and booking, a real-time fleet optimization program to
maximize operational efficiency, and guaranteed point-to-point
prices.
"This is an exciting time in the aviation industry and we are
delighted to be a part of the team at ImagineAir and assist it in
building its growing business," said Bill Lockhart, Managing
Partner of RockBridge Capital Partners, Inc.
ImagineAir currently serves over 600 airports in the Southeast
and has begun the process of selecting additional airports at which
to base airplanes. With the addition of the Eclipse 500 VLJ, the
company will be in the unique position of being able to offer
customers a jet or cutting edge piston aircraft, whichever is most
efficient for their mission.
ImagineAir’s newest SR22 is being featured by Cirrus
Design at the National Business Aviation Association Convention in
Atlanta, and will be on display at Fulton County Airport September
25-27.
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