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.