Atlanta Business Chronicle
Published on: 09/25/07

Air taxi company ImagineAir has inked and agreement specialty investment banking firm RockBridge Capital Partners Inc. to raise $18.2 million to add up to 24 aircraft.

Lawrenceville, Ga.-based ImagineAir said it plans to add to its fleet of Cirrus SR22 aircraft and bring the first of its Eclipse 500 very light jets online, currently scheduled for delivery in 2008. The financing will include common equity, senior debt and leasing of the aircraft, and financing of pre-delivery deposits.

"After seven consecutive months of increasing revenue, securing this financing will be a significant milestone for ImagineAir," said Aaron Sohacki, ImagineAir CEO. "It will enable us to continue the positive growth of our business model."

Air taxis are considered private jet and turbo prop planes that can be hired for a day with no membership or fractional ownership costs. ImagineAir serves more than 600 airports in the Southeast and has begun to pick additional airports at which to base airplanes.

ImagineAir and Let your Imagination Fly are trademarks of Imagine Air Jet Services, LLC. All other trademarks are registered trademarks are property of their respective owners.