By Associated Press
Boca Raton, FL – A small startup airline intended to shuttle busy business travelers between regional airports has grounded its planes and filed for Chapter 7 bankruptcy.
Records show that Boca Raton-based DayJet Corp. filed for Chapter 7 liquidation on Nov. 14. The company had more than $23 million in liabilities and $17 million in assets when it filed in federal court in Delaware.
DayJet had cited a failure to obtain capital as the main reason it stopped flying. The on-demand personal jet company served 45 cities across Alabama, Florida, Georgia, Mississippi and South Carolina, with 10 operating hubs that served as
access points for travel to and from destinations.
In a message to customers on its Web site, the company said it would not honor existing reservations or offer refunds.
(Copyright 2008 by The Associated Press. All Rights Reserved.)