Eos Airlines to bring back premium air travel experience
on transatlantic flights
Premium airline EOS marks new era in transatlantic air travel
PURCHASE, N.Y., June 8 /PRNewswire/ -- Eos, the first premium airline serving transatlantic business travelers, today announced plans to launch round-trip service from New York to London in Q3 of this year. Eos, named for the "Greek goddess of the dawn," has secured $185 million in financing and has assembled a proven management team to lead the company. The company is proceeding with the necessary regulatory filings with the Federal Aviation Administration and U.S. Department of
Eos brings an innovative and specialized approach to transatlantic service, transforming the flight environment from a multi-class airplane with more than 200 seats into a premium, tailored space that provides superior customer attention for 48 business travelers. The airline has taken possession of its first three 757 aircraft, which are being outfitted and
customized to reflect what customers want: the feel of private transportation and a community of like-minded travelers. Designed with a clear focus on today's business traveler, Eos' single, premium class service will give the customer 21 square feet of personal space.
David Spurlock, a former senior executive of British Airways, is the founder and Chief Executive Officer of Eos. He leads a management team with an unprecedented amount of experience in customer service and airline operations for a start-up airline.
"As the first airline focused exclusively on the premium international traveler, Eos is introducing a new standard in commercial aviation," said Spurlock. "Our highly customized approach to the market alleviates many of the difficulties faced by traditional airlines and will allow us to take advantage of operational efficiencies and a streamlined cost structure. In addition, this single-mindedness allows us to invest in both our people and our aircraft to ensure that we deliver world-class service. In short, our model enables us to offer premium airline service at a significant value."
To date, Eos has raised $85 million in equity and approximately $100 million in lease financing. Golden Gate Capital, a leading US Private Equity Group known for investing in change-intensive opportunities, is the lead equity investor. Other investors include Sutter Hill Ventures, a leading Silicon Valley venture capital firm that provides invaluable experience in starting and growing businesses; and Maveron, a venture capital firm co-founded by Starbucks' Howard Schultz that provides branding expertise and a unique perspective on the consumer experience. The initial aircraft lease
financings have been provided by International Lease Finance Corp.
"In Eos we see the opportunity to build a great business in a dramatically underperforming industry," said Jesse Rogers, Managing Director of Golden Gate Capital. "Incumbent competitors are coping with severe challenges to their ongoing viability, and service levels have suffered. Our team is targeting the premium traveler frustrated by existing offerings and will provide an experience modeled after leading customer-centric retailers and premium hotels. We believe that Eos, led by its uniquely qualified management team, with its narrow focus on premium transatlantic travelers, will deliver a
combination of service, comfort and value that is unprecedented in the transatlantic market."
"Throughout its history, the airline industry has continually reinvented itself to meet the needs of each unique era," added Spurlock. "The Jet Age saw big carriers transform the travel industry and make air travel available to the masses. What we've recently seen could be characterized as the 'Value Age,' with the introduction of myriad inexpensive travel options for consumers. Unfortunately, during this time of cost-cutting, the quality of experience for the premium business traveler has suffered. Eos is initiating a new era in the field of aviation, focused on specialization and meeting the
needs of the discerning traveler."
"Eos will take the stress and hassle out of flying and return to the 'Concorde-like' experience of exclusivity and community that is missing from today's airline marketplace," said Bonnie Reitz, President, Eos. "All of our employees are passionate about serving today's discerning traveler, and doing so with a sophisticated, perceptive, confident and human personality."
Founded in March 2003, Eos is a privately held airline focused exclusively on the premium international traveler.