Originally published in the Worcester Business Journal Online on July 7, 2008
By Matthew L. Brown
Linear Air, a Concord-based air taxi service, has closed on $3.5 million in equity financing intended to fund the company's expansion in the Northeast.
In particular, the company needs the money to support the growth of its Eclipse jet service, which was launched last year. The company recently began offering Eclipse service in New York. The company provides air taxi service to 750 cities in the Northeast, the mid-Atlantic states and eastern Canada with three-passenger jets and eight-passenger airplanes.
To date, Linear has raised $10 million in private equity financing and another $12 million with its aircraft lease program.