Ed Wegel has over 35 years of experience in the airline industry
and in investment banking and restructuring. He has launched
several new airlines, restructured several airline and aviation
companies, and advised many airlines worldwide on strategy and
aircraft programs.
Prior to GlobalX, Ed served as President and CEO of Eastern Air
Lines Group, Inc., a company he formed in 2007 to acquire the
intellectual property of Eastern from the Eastern estate to
re-launch the airline. He successfully led a $15 million equity
raise and certified the airline with the US FAA and DOT in seven
(7) months. Eastern operated six 737-800 aircraft and ordered 20
new 737-800s from Boeing and 20 of the new MRJ-90 aircraft from
Mitsubishi before its successful sale to a major charter airline
group.
Prior to Eastern, he served as the Chief Restructuring Officer,
Chairman and Chief Executive Officer of OneTravel, an internet
travel company based in Atlanta, Georgia until 2008. After a
successful restructuring, Ed sold the company in two separate
transactions to Fareportal and Booking Holdings. From 2003 to
2005, he served as Senior Vice President of Corporate Development
for Mesa Air Group. From 2000 to 2002, he served as President and
Chief Operating Officer of Tower Airlines, a New York based
international scheduled airline with fifteen 747 aircraft flying
for the U.S. military and in scheduled service to points around
the world.
From 1997 to 1999 he was President, Chief Executive Officer and a
director of Chautauqua Airlines/U.S. Airways Express
(“Chautauqua”). He originated the transaction and raised the
equity for the acquisition and also structured an order for 80
Embraer regional jets. While at Chautauqua, he negotiated deals
with US Airways and United Airlines for the operation of the jets
under wet lease contracts.
From 1994 to 1996, he served as President, Chief Executive Officer
and a director of BWIA International Airways (“BWIA”), having
conceived the privatization transaction with the Government of
Trinidad, raising the required equity and negotiating alliances
with British Airways and American Airlines. He led BWIA to its
first ever annual operating profit in 55 years.
From 1991 to 1996, he was a co-founder and member of the board of
directors of Atlantic Coast Airlines (United Express), where he
was instrumental in raising the required equity, structuring the
acquisition, and negotiating a new aircraft order with British
Aerospace for 20 J-41 aircraft.
He was a Vice President in the investment banking/restructuring
division of Lehman Brothers in New York from 1987 to 1991, where
he worked on several major airline restructurings and ran Lehman's
portfolio of 45 commercial jet aircraft on lease to major U.S.
airlines. During that time, he also served on the board of
directors of Polaris Industries and the administrative general
partner of several publicly traded master limited partnerships.
From 1985 to 1987, after five years of active military service as
a combat arms commander in the US Army, he served as Director of
Finance for Eastern Air Lines in New York.
He graduated from the United States Military Academy, West Point
in 1980 and received his MBA in Finance from the University of
Northern Colorado in 1982.
Other accomplishments include drafting the first business plan for
JetBlue, focused on acquiring a fleet of new Airbus A320s and
establishing the JFK base of operations.
