Calculate your site FeedRank Today
FeedRank, a newly developed algorithm for ranking RSS feeds only on RSSMicro
Click here to learn more
 4/10 Good --- privateequity.bloggingstocks.com http://privateequity.bloggingstocks.com/rss.xml
Thursday, May 01, 2008 --- 85 days ago http://www.bloggingstocks.com/2008/04/29/eos-airlines-becomes-a-non-airline/
| Filed under: Private equity , Oil , Recession When Eos Airlines got its start in 2005, there was lots of buzz. Essentially, this was a New Age carrier that would provide business travelers with high-end comforts, such as more legroom as well champagne, gourmet foods, and so on. In fact, it called itself the "Unairline" (yes, it sounds kind of Orwellian).
Well, it's now a non-airline. With surging oil prices - and an ailing economy - Eos is now in bankruptcy and all operations have ceased . According to the front page of Eos' website, there was actually a term sheet for an investment. But somehow "issues arose" that killed the deal.
Keep in mind that the Eos charged premium airfares. Yet, it was still not enough. The company faced intense competition from the main carriers (which provide business class).
Something else: Golden Gate Capital, a private equity firm, was the largest equity holder, with a 47% stake.
Tom Taulli is the author of various books, including The Complete M&A Handbook ( www.mergerbook.com ) and is also a principal in Averiware , which provides an ERP system to small and midsize businesses.
Permalink | Email this | Linking Blogs | Comments ... |
|
|
Recent Posts
|
|
|
Facebook Del.icio.us Digg StumbleUpon Reddit Google
Anytime
