Friday, April 15, 2016

Former Surf Air Founder's New Flight Startup, Beacon, Shuts Down

Beacon, the new, all-you-can fly startup led by former Surf Air founder Wade Eyerly, has shut down, after burning through all of its cash--and never getting off the ground. According to a report from TechCrunch, Beacon apparently was unable to cover all of its expenses as it ramped up its operations, having relied on "pre-selling" spots on its all-you-can-fly service--but finding that most of those people who had paid a deposit to reserve a spot on the airline were unwilling to sign up for its monthly membership fee. Eyerly said in an interview that "three-fourths of our sales were to people who didn't want to start flying until a future date." Beacon had been targeting the East Coast of the United States.

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