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Aircraft - Wednesday, August 22, 2007

Eos Airlines Raises Large Funding Round For NYC-London Route

BuzzMachine gave solid marks to the all first-class JFK to London Stansted airline EOS. Says he: "At $2950 for the lowest roundtrip (30-day advance, Saturday stay), it’s not a bargain, but it looks like one next to the $13,000 it costs to fly first class on BA...The most important thing about the airline is its seat, which reclines to a fully flat bed with plenty of room to stretch out, work, eat, talk. Just as important, it comes with a 120-volt laptop plug. Heaven."

With its first flight two years ago, Eos has won a following from bankers who need to cross the pond on an expense account and who can no longer deal with BA losing their bags. The company flies Boeing 757s outfitted for just 48 passengers.Today the company announced it has closed $50M in equity capital "from institutional and private sources. One new investor accounts for $35M of the total." For some reason the company is coy about who provided the capital but says it will add more flights.

Eos Chairman is none other than former Schwab CEO Dave Pottruck.

While we expect to see EOS clean house with BA, it does have comparable new competition, specifically Silverjet, which Buzzmachine has also flown and which he ranks second after Eos.

Read - Buzzmachine