DayJet was an American commercial aviation operation that provided on-demand jet travel using Eclipse 500 very light jets. Founded by Ed Iacobucci, the former leader of the IBM-Microsoft Joint OS/2 development team IBM executive and the founder of Citrix Systems, and his wife, network architect Nancy Lee Iacobucci, DayJet launched in October 2007. It was based in Delray Beach, Florida. Described by its founders as an on-demand jet taxi service, DayJet raised $61 million in venture funding, entered into a five-year agreement with the U.S. Federal Aviation Administration and purchased 28 passenger Eclipse 500 jets (4 and 8-seaters) at the cost of $1.5 million each before suspending operations on September 19, 2008, during the height of the 2008 financial crisis. DayJet was Eclipse Aviation's largest customer with a planned eventual delivery of 1,400 aircraft representing a majority of the estimated 2,500 Eclipse 500s on order. Its headquarters were in Delray Beach, Florida. DayJet had 239 orders for the Eclipse 500, and was expected to place 70 more by 2010. The first delivery of three Eclipse 500 aircraft took place on March 31, 2007. History May 2008 financial problems On 6 May 2008, DayJet announced a scaling back of its operations and the laying off of 100–160 employees in all segments of the company. The company also sold or leased out 16 of the 28 Eclipse 500s it owned. DayJet founder and CEO Ed Iacobucci indicated that the company needed an investment of US$40M at that time to reach profitability, but that the economic climate did not permit the company to raise that amount. Iacobucci stated that the company had proven that the per seat time sensitive pricing air taxi operational concept is sound, but that the carrier's fleet needed to be quickly expanded to fifty aircraft to reach profitability. Despite cutting its fleet, the air carrier announced on 21 May 2008 that they were expanding their service by making two more destinations in Florida, Jacksonville and Sarasota, into hub airports DayJet designates as "DayPorts". In July 2008, both Saint Petersburg/Clearwater and Orlando, Florida were added as hub DayPorts. September 2008 suspension of operations The company announced the following news on 19 September 2008: DayJet Services, LLC, the world’s first operator of “Per-Seat, On-Demand” jet service, today announced that it has ceased jet services, pending further notice. The company today eliminated most employee positions. With the discontinuation of jet services and