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Published on Wednesday, November 1, 2006

Eos secures $75m for expansion

Business class-only carrier Eos has raised $75 million to fund future expansion, including new US routes from the UK.

The second round of institutional investment will enable the airline to expand its fleet of Boeing 757s in preparation for new services in 2007. Paris and Zurich flights to New York are under consideration in addition to more UK flights. 

Eos, which launched premium class-only flights between Stansted and New York last year, has secured the new expansion capital from both current and new institutional investors.

The airline announced the start of a second daily flight between New York and London in September using the 757s in a 48-seat configuration and claims to have maintained load factors of more than 65%. 

“The airline has identified and prepared initial applications for a range of possible new routes from New York, including growth markets such as Paris and Zurich, as well as potential new US city pairs for flights to and from London, “ a statement said. 

The carrier competes against MaxJet from Stansted and faces fresh transatlantic competition from newcomer Silverjet from Luton in January. 

Eos chairman and CEO Dave Pottruck said: “We will continue to innovate and to listen to the needs of our guests as we pursue new routes in 2007.”

Report by Phil Davies

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