In midst of this financial crisis, yet another airline had filed for banruptcy. DayJet, a small startup airline based in Boca Raton, Florida has filed for Chapter 7 bankruptcy at a Deleware federal court. While the airline had approximately $17 million in assets, it also had $23 million in liabilities, putting the company deep into the red.
The airline was well known for its on-demand personal jet service, which serviced many smaller airports. DayJet concentrated on the Southeast because of the lack of major airline presence due to service cutbacks over the recent years. However, the airline suddenly ceased operations on September 18th, citing the lack if capital as its reason. In addition, the airline refused to honor existing tickets or give refunds, and those who had already started their travel but had yet to complete their trip were stuck without a plane ticket to their destination. In addition, though the airline has stopped service since September 18th, it was only on November 14th that the airline filed. The reason for this delay has not been cited.
It seems long ago when airlines were bristling with passengers and capital. Only time will tell if and when would the outlook be positive again.
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