Pogo Won’t Be Bouncing Anytime Soon

AINalerts » June 8, 2006
November 17, 2006, 5:25 AM

Very light jet air-taxi hopeful Pogo will likely “not launch operations before 2009,” according to company CEO and former American Airlines boss Robert Crandall. Initially, Pogo was planning on getting a VLJ operation off the ground this year with Adam A700s. He told AIN that neither the A700 nor the Eclipse 500 has the “range-payload characteristics, operating costs and reliability parameters consistent with our business plan.” Nevertheless, Crandall has not asked for the return of Pogo’s refundable deposit for 75 A700s submitted just after it was formed in 2004. “We are continuously evaluating all the VLJ developmental programs and are in regular communication with the respective OEMs,” he told AIN. As for funding, Crandall said, “We closed our second round at the beginning of this year for $5.6 million. In total, we have raised almost $14 million. Future funding, of course, will depend on when we sign purchase and support agreements for aircraft. In any case, we do not anticipate seeking additional funding before late next year.”

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