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19/09/2008
Irish Executive Flights Take Off Into Turbulent Conditions
In spite of the demise of several flight operators, a new Dublin-based executive jet company has secured a huge investment for the take-off of its business.
The new company, JetBird, will be providing top executives with pan-European low-cost flights, with high hopes of starting with a fleet 25 aircraft.
Although over 20 airlines have closed this year alone - including the most recent one - XL airlines which left thousands stranded overseas, the new airline has bucked the trend and received a €10 million investment from what is reported to be a highly respected Middle Eastern trading group.
The total investment in the company now stands at €100 million, while the company has secured debt financing from the Royal Bank of Scotland to fund its first delivery of the Embaer Phenom 100 aircraft, manufactured in Brazil.
The jets have a capacity of four passengers in its normal configuration, but can carry up to six passengers if the lavatory is removed, and each craft is worth an estimated €2.09million.
Despite the global market conditions, private jet manufacturers are reporting record sales.
The company was first conceived late last year, founded by the Irish private investment firm Claret Capital.
(DW)
The new company, JetBird, will be providing top executives with pan-European low-cost flights, with high hopes of starting with a fleet 25 aircraft.
Although over 20 airlines have closed this year alone - including the most recent one - XL airlines which left thousands stranded overseas, the new airline has bucked the trend and received a €10 million investment from what is reported to be a highly respected Middle Eastern trading group.
The total investment in the company now stands at €100 million, while the company has secured debt financing from the Royal Bank of Scotland to fund its first delivery of the Embaer Phenom 100 aircraft, manufactured in Brazil.
The jets have a capacity of four passengers in its normal configuration, but can carry up to six passengers if the lavatory is removed, and each craft is worth an estimated €2.09million.
Despite the global market conditions, private jet manufacturers are reporting record sales.
The company was first conceived late last year, founded by the Irish private investment firm Claret Capital.
(DW)
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