Too bad their poster child is sputtering. Layoffs and funding woes are plaguing air-taxi start-up DayJet, a company touted as the future of commuting for short-hop flights on superlight jets to and from out-of-the-way spots.
At the same time, regional and charter operator ExpressJet is getting slammed by the credit crisis. Portfolio's Felix Salmon notes that the carrier put $65 million into auction-rate securities that promptly froze up. Now it needs access to cash, or it could follow the likes of Frontier into bankruptcy.