Boca Raton, Florida
Boca Raton, Florida (2007-2008)
Delray Beach, Florida
Delray Beach, Florida (until 2007)
Ed Iacobucci, founder Nancy Lee Iacobucci, founder
DayJet Eclipse 500
DayJet was an American commercial aviation operation that provided
on-demand jet travel using
Eclipse 500 very light jets. Founded by Ed
Iacobucci, the former leader of the IBM-
Microsoft Joint OS/2
IBM executive and the founder of Citrix Systems, and
his wife, network architect Nancy Lee Iacobucci,
DayJet launched in
October 2007. It was based in Delray Beach, Florida.
Described by its founders as an on-demand jet taxi service, DayJet
raised $61 million in venture funding, entered into a five-year
agreement with the U.S. Federal Aviation Administration and
purchased 28 passenger
Eclipse 500 jets (4 and 8-seaters) at the cost
of $1.5 million each before suspending operations on September
19, 2008 during the height of the 2008 financial crisis.
DayJet was Eclipse Aviation's largest customer with a planned eventual
delivery of 1,400 aircraft representing a majority of the estimated
2,500 Eclipse 500s on order.
Its headquarters were in Delray Beach, Florida.
DayJet had 239 orders for the Eclipse 500, and was expected to place
70 more by 2010. The first delivery of three
Eclipse 500 aircraft took
place on March 31, 2007.
1.1 May 2008 financial problems
1.2 September 2008 suspension of operations
1.3 Sale of
4 External links
May 2008 financial problems
On 6 May 2008
DayJet announced a scaling back of its operations and
the laying off of 100–160 employees in all segments of the company.
The company also sold or leased out 16 of the 28 Eclipse 500s it
DayJet founder and CEO
Ed Iacobucci indicated that the company needed
an investment of US$40M at that time to reach profitability, but that
the economic climate did not permit the company to raise that amount.
Iacobucci stated that the company had proven that the per seat time
sensitive pricing air taxi operational concept is sound, but that the
carrier's fleet needed to be quickly expanded to fifty aircraft to
Despite cutting its fleet, the air carrier announced on 21 May 2008
that they were expanding their service by making two more destinations
in Florida, Jacksonville and Sarasota, into hub airports DayJet
designates as "DayPorts". In July 2008 both Saint
Orlando, Florida were added as hub
September 2008 suspension of operations
The company announced the following news on 19 September 2008:
DayJet Services, LLC, the world’s first operator of “Per-Seat,
On-Demand” jet service, today announced that it has ceased jet
services, pending further notice. The company today eliminated most
employee positions. With the discontinuation of jet services and
cancellation of all flights,
DayJet is unable to honor any customer
The company indicated that given the current economic climate in the
USA it is unlikely that flying operations will be resumed.
The company also announced a change in management on 19 September
Iacobucci has stepped down as
DayJet President and CEO but continues
to serve as Chairman of the Board of Directors. John Staten has been
named interim CEO with responsibility for managing the affairs of the
company during the next phase of operations. Staten has served as
DayJet CFO and Senior Vice President of Operations for the past six
In November 2008, Iacobucci indicated that he was still attempting to
raise capital to restart the company and that it would be a smaller,
scaled back operation. He also stated at that time that there were a
number of problems that caused the company to cease operations, but
that the key issue was the credit crisis.
In analyzing DayJet's situation Iacobucci said that problems with
Eclipse had contributed, but that the
Eclipse 500 was the best choice
DayJet when it was starting up due to its purchase price and
projected maintenance costs. Using the
Eclipse 500 also permitted
DayJet to start with a single aircraft type for the whole fleet.
Iacobucci indicated in November 2008 that he was still pursuing
investors, but would not be committing more of his own money, having
already invested US$20 million.
Iacobucci did not place blame for the company's problems on the choice
of the Eclipse 500, saying, "It’s not the flippin’ airplane".
Eclipse Aviation announced in October 2008 that they were acting as
"the exclusive broker" for the sale of the existing 28 DayJet
Canadian light aircraft fractional aircraft company OurPlane bid on
DayJet fleet of aircraft, offering more than "$500,000 each
but less than $1.5 million" each. OurPlane operated a fleet of Cirrus
SR22 aircraft and one current
Eclipse 500 until its bankruptcy in
October 2010. OurPlane had planned to offer its customers one-quarter
shares in the Eclipse 500s for less than US$449,000.
OurPlane did not complete the purchase of the
DayJet fleet and the
aircraft became the property of Eclipse Aerospace, the new company
that purchased the assets of
Eclipse Aviation from Chapter 7
bankruptcy in August 2009.
Eclipse Aerospace indicated that they
intend to upgrade and sell the aircraft.
At the time of DayJet's bankruptcy, a group of investors took control
DayJet Technologies, the technology subsidiary, and are operating
it as a private technology company.
^ "Test Driving an Air Taxi: Quiet, Quick but Not Cheap". The New York
Times. 19 June 2007. Retrieved 19 May 2017.
^ Tatge, Mark (13 August 2007). "A Bus in the Clouds". Forbes.
Retrieved 19 May 2017.
^ Nusca, Andrew (June 21, 2013). "Ed Iacobucci, co-founder of Citrix,
dies of cancer". ZDnet. Retrieved 20 May 2017.
^ Lindsay, Greg. "Flight Plan". Fast Company. Retrieved 19 May
^ a b Garrett, Mark. Encyclopedia of Transportation: Social Science
DayJet Takes Off" (PDF). Press Release.
2007-10-03. Archived from the original (PDF) on August 23, 2011.
^ a b c "Archived copy" (PDF). Archived from the original (PDF) on
2008-10-10. Retrieved 2009-02-22.
^ Garrett, Mark (13 August 2014). "Encyclopedia of Transportation:
Social Science and Policy". SAGE Publications. Retrieved 19 May 2017
– via Google Books.
^ "Contact Us." DayJet. March 16, 2006. Retrieved on May 3, 2012.
"1801 S. Federal Highway, Suite 100
Delray Beach, Florida
Delray Beach, Florida 33483"
Eclipse Aviation Delivers Three
Eclipse 500 VLJs to DayJet" (PDF).
DayJet Corporation. 2007-03-31. Archived from the
original (PDF) on 2007-09-30. Retrieved 2007-04-11.
^ a b Niles, Russ (2008-05-06). "
DayJet Cuts Jets And Staff".
AVweb.com. Aviation Publishing Group. Retrieved 2008-05-08.
^ a b Niles, Russ (2008-05-06). "
DayJet Announces Layoffs". AVweb.com.
Aviation Publishing Group. Retrieved 2008-05-06.
^ Grady, Mary (2008-05-21). "
DayJet Expands Operations In Florida".
AVweb.com. Aviation Publishing Group. Retrieved 2008-05-22.
DayJet Fills Gaps in Regional Travel with 30 Percent Expansion of
"Per-Seat, On-Demand" Service Network". Press Release. Business Wire.
2008-07-09. Retrieved 2008-07-26.
DayJet (September 2008). "Frequently Asked Questions for Customers"
(PDF). Archived from the original (PDF) on October 10, 2008. Retrieved
^ a b Harrington, Jennifer (November 2008). "Iacobucci: Credit Crisis
To Blame for DayJet's Demise". Retrieved 2008-11-13.
^ a b Frogameni, Bill (November 2008). "DayJet's Iacobucci speaks
about company's troubles, future". Retrieved 2008-11-13.
Eclipse Aviation (n.d.). "Buy an
Eclipse 500 Jet Now – Limited
Availability". Retrieved 2008-10-21.
^ Niles, Russ (October 2008). "Eclipse Selling Off
^ Trautvetter, Chad (October 2008). "OurPlane Makes Play for Former
DayJet Eclipse 500s". Archived from the original on 2008-10-30.
^ OurPlane (October 2008). "OurPLANE Bids For
DayJet Fleet Service
Targeted to Business". Retrieved 2008-12-10.
^ Niles, Russ (October 2010). "OurPLANE "Owners" Angry". AvWeb.
Retrieved 7 October 2010.
^ Grady, Mary (August 2009). "A New Beginning for Another Eclipse?".
DayJet Bankruptcy: A Story of Brinksmanship". Aviation Today.
2008-12-08. Retrieved 2014-01-05.
^ "VMware CEO Paul Maritz has secret plan for defunct airline's
technology - Puget Sound Business Journal". Techflash.com. 2008-11-05.
^ "The Optimal Path". Dayjettech.com. Retrieved 2014-01-05.
Fallows, James (May 2008). "Taxis in the Sky". The Atlantic
DayJet Corporation, officia