Goodbye EOS - EOS Unairlined

Posted April 27th, 2008 by jim

Yesterday, on April 26, 2008, Eos Airlines announced their plans to file bankruptcy on their web site, announcing they would cease operations after April 27.
Here's the sad letter to their customers on their home page:
April 26, 2008

To Our Valued Guests,

The relationship we have is very special. You have shown a true
appreciation for the commitment and service that defines Eos Class and
it has always been our pleasure to deliver Eos Class service to you.
The sense of camaraderie and level of engagement we've developed
together transcends the traditional airline space.

Our unique relationship makes it all the more difficult to share with
you the news that Eos has filed for bankruptcy in the U.S. Bankruptcy
Court in the Southern District of New York. On April 26, 2008, we plan
to operate Flight 6 (8:30pm) from JFK to STN. On April 27, 2008, we
plan to operate Flights 3 (1:00pm) and 7 (6:30pm) from STN to JFK.
Flight 5 from STN to JFK and all flights from JFK to STN on April 27,
2008 are canceled. We will cease operations entirely after April 27,
2008.

This announcement is particularly regrettable since we have
achieved so much, including having a term sheet in hand for additional
financing. Clearly, even in today's challenging economic and credit
environment, investors believe in Eos. Unfortunately, some issues arose
that prevented the parties from moving forward.

We sincerely apologize to those of you who have travel planned in
the days ahead. Eos Guests should seek alternative arrangements for
travel and should contact their credit card companies or travel agents
directly for information about how to obtain a refund for unused
tickets.

For our Club 48 members, unfortunately, in the face of this
bankruptcy filing, you will no longer be able to redeem your points for
rewards. Any value related to your membership will be determined by the
court as part of the bankruptcy process.

Additional information is available at the following links:

Customer Information

Customer FAQs

Supplier Information

Media Information

Press Release

General Information

Again, we apologize and thank you for everything, especially for being our Guests.

Sincerely,

Jack Williams, President & Chief Executive Officer
Dave Spurlock, Founder and Chief Commercial Officer
Tom Martin, Chief Financial Officer
Gil Morgan, Chief Operations Officer
Adam Komack, Chief Lifestyle Officer
John Turnipseed, Chief People Officer
Jim Prebil, Chief Information Officer
John Morgan, SVP, EMEA
Andy Menkes, SVP, Sales - Americas eos Logo Unairline

EOS is surely missed. they

Submitted by sven b. (not verified) on Fri, 09/19/2008 - 14:22.

EOS is surely missed. they left some big shoes to fill in.

EOS Unairlined - press release

Submitted by jim on Sun, 04/27/2008 - 05:33.

PRESS RELEASE

EOS AIRLINES FILES FOR CHAPTER 11
Planned Investment does not Close; Premium Class New York-London
Carrier Forced to Wind Down Operations
Purchase, NY, April 26, 2008 – Eos Airlines, the premium class New York to
London carrier, which has become known for its operational excellence and
uncrowded Guest experience, announced today that it has filed a voluntary
petition under Chapter 11 of the U.S. Bankruptcy Code. The petition was filed
April 26, 2008 in the U.S. Bankruptcy Court in the Southern District of New York.
On April 26, 2008, Eos plans to operate Flight 6 (8:30pm) from JFK to STN. On
April 27, 2008, Eos plans to operate Flights 3 (1:00pm) and 7 (6:30pm) from STN
to JFK. Flight 5 from STN to JFK and all flights from JFK to STN on April 27,
2008 are canceled. Eos will immediately implement a reduction in its workforce,
eliminating the positions of most of its employees, and will cease operations
entirely after April 27, 2008.
Jack Williams, Eos’ CEO, said: “After overcoming today’s extremely challenging
economic and credit environment to negotiate terms for a round of financing, it is
regrettable that we were forced to take this action. We had been clear since
closing on our last round of financing that we would need additional capital. As
difficult as it is to raise funds in the current environment, investors believe in our
business model and we were on the verge of success.
“Unfortunately, just as we were working toward closing on an investment that
would have carried us to corporate profitability in 2009, some issues arose that
we could not overcome. It is regrettable that, even though investors continue to
be enthusiastic about our business model, and even though we had a term sheet
in hand, we were unable to close on the financing we needed. That leaves us
with insufficient cash on hand to continue operations.
“There are times in business when even though you execute your business plan
and even though your employees do their jobs beautifully, external forces
prevent you from controlling your own destiny.
“I want to express my appreciation to our dedicated employees and to the many
Guests who have become like family to us.”
Guests and suppliers who need more information should visit
www.eosclass.com.
Court filings and claims information will be available at
http://kccllc.net/eosairlines.