Eos raises $50 mn in capital

Eos Airlines, Inc., continuing its strong track record of attracting quality investors, has secured another $50 million in equity capital from institutional and private sources in a transaction that closed on 17 August.  One new investor accounts for $35 million of the total.  Eos, with less than two years of flight operations, has significantly raised the bar on transatlantic travel, designing the world’s only fleet of Boeing 757s outfitted for just 48 guests, delivering an uncrowded, stress-free travel experience, and generally proving itself a “category of one.”  In 2007, Eos has made enviable strides: expanding to 44 flights per week between New York and London, adding additional aircraft to its growing fleet, opening a new Eos Class lounge, Club 48, at London Stansted Airport, delivering near-perfect luggage handling, and leading would-be competitors in guest satisfaction and on-time performance.

According to Eos President and CEO Jack Williams, who announced this latest round of financing, “Securing this new capital is testimony to Eos’ success to date, reflects the confidence in our business model, and enables us to continue growing to a scale that will lead to strong corporate profitability.  Importantly, it also means that we will acquire our fifth and sixth Boeing 757-200ER aircraft, both to be delivered during the next five months.”

“This funding,” he continued, “really recognises the extraordinary dedication and hard work of all of our best-in-class employees who perform their jobs with genuine care, efficiently and smartly every day.”

In the short-term, Eos will put its fourth Boeing 757 into service in September, adding a new 9 a.m. departure from JFK four days a week. That flight arrives in London Stansted at 9 p.m. A new 4 p.m. flight from London, arriving at 6:55 p.m. in New York, can be booked five days a week. Other new additions to the schedule include late night flights on Sundays to New York at 10:30 p.m., and an 11:05 p.m. flight to London, 3 days a week.