DayJet has just announced on September 19 that it is no longer flying.
As of September 19, 2008, DayJet Services, LLC, has discontinued its jet services and cancelled all future flights as a result of the company’s inability to arrange critical financing in the midst of the current global financial crisis.
Ed Iacobucci is no longer the CEO but is still the Chairman of the Board. The specifics are listed in the press release. Most of the employees have already been let go.
Not every venture is going to be successful, but it is a shame that this is DayJet’s fate. It had been gaining quite a bit of momentum this last year and there does seem to be a connection with difficulty in getting more funding.
This is Ed’s second company as founder. Citrix was the first.