"Regrettably, without access to growth capital, we have no choice but to discontinue operations," said DayJet founder Ed Iacobucci, who stepped down as the company's president and CEO.
The Boca Raton-based company said it can't honor reservations or issue refunds.
While DayJet's shutdown is a "direct consequence of the company's inability to arrange critical financing in the midst of the current global financial crisis," operations "also suffered as a result of Eclipse Aviation's failure to install missing equipment or functionality or repair agreed technical discrepancies in accordance with the terms of DayJet's aircraft purchase contract," a company statement said.
Dayjet mostly flew business customers on a "per-seat, on-demand" basis between more than 60 airports across five Southeastern states. It was the largest single user of the $2.2 million Eclipse model 500 "very light jet" aircraft.
Recently, the FAA's certification of the aircraft has come under scrutiny by federal and Congressional investigators who say the agency ignored safety concerns involving the jet's design and manufacturing.
DayJet filed 93 "service difficulty reports" to the FAA since the aircraft was certified in 2006, Congressional testimony shows.
An Eclipse spokeswoman declined to comment Friday.