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 Unlimited -- Most Recent Daily Episodes

Episode Date

Airborne-Monday

Airborne-Tuesday

Airborne-Wednesday Airborne-Thursday

Airborne-Friday

Airborne On YouTube

Airborne-Unlimited-06.17.24

Airborne-NextGen-06.18.24

Airborne-Unlimited-06.12.24 Airborne-FltTraining-06.13.24

Airborne-Unlimited-06.21.24

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

Aero-News: Quote of the Day (06.20.24)

“This achievement is a result of the strong demand and high flight activity we’re seeing from customers around the world. Having exceeded 100,000 flight hours further r>[...]

ANN's Daily Aero-Linx (06.20.24)

Aero Linx: Flying Physicians Association (FPA) FPA members are physician-pilots promoting safety, education and human interest projects relating to medicine and aviation. FPA organ>[...]

ANN's Daily Aero-Term (06.20.24): Chart Supplement U.S.

Chart Supplement U.S. A flight information publication designed for use with appropriate IFR or VFR charts which contains data on all airports, seaplane bases, and heliports open t>[...]

ANN's Daily Aero-Term (06.21.24): Dead Reckoning

Dead Reckoning Dead reckoning, as applied to flying, is the navigation of an airplane solely by means of computations based on airspeed, course, heading, wind direction, and speed,>[...]

Aero-News: Quote of the Day (06.21.24)

“We’re getting set to host the biggest FlightSimExpo ever. See you for another unforgettable weekend of product launches, hands-on exhibits, educational seminars, re-co>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2024 Web Development & Design by Pauli Systems, LC