September 06, 2007

$99-to-the-airport sale at struggling U.S. Helicopter

If you're intrigued by the concept of regular commuter service to the airports via an 8-minute helicopter ride from Manhattan, now is the time to jump in and support U.S. Helicopter -- for two good reasons.

1. They're having a $99 sale on all airport tickets through October 31.

2. They need your business badly, according to their August financial filings, which include this dire warning: "We have incurred substantial net operating losses and used substantial amounts of cash in our operating activities. Since our inception, we have incurred losses, have an accumulated deficit, and have experienced negative cash flows from operations. The expansion and development of our business will likely require additional capital. This condition raises substantial doubt about our ability to continue as a going concern."

In March 2006, U.S. Helicopter opened for business with regular weekday shuttles between JFK Airport and the Wall Street heliport. It has since added service to Newark Airport and a heliport at E. 34th Street. Regular one-way fares have reached as high as $174.90.

But as of June 30, 2007, the company had an accumulated deficit of $20 million, according to its August 20 filing with the Securities and Exchange Commission. Despite that bad news, the same filing still includes this hopeful expansion plan: "We intend to expand our service to LaGuardia International Airport and the West 30th Street Heliport in Manhattan during the next 12 months."

As for the ticket sale, the actual price of a one-way ticket through October is $104.90 including fees and taxes. The trip makes sense if you are flying Delta out of JFK or Continental out of Newark since that's where the helicopter lands at each airport, allowing you to go directly to your airline gate without changing terminals or another round of security.

Related: Hamptons Helicopter Gridlock Stirs Up Air Rage on the Ground (Bloomberg News)

Earlier: US Helicopter behind on rent at Wall Street heliport
US Helicopter swaps JFK partner to Delta from AA

September 6, 2007 06:46 AM in Arrivology

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