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A group including former top execs with CBS, Citicorp and Legend Airlines starts up a charter-airline company
LOVE FIELD -- A group of Dallas investors with aviation roots is spending "well into seven figures" to start up a charter airline it admits is a high-risk venture.
The airline, called Patriot Air, is intended to serve resorts and casinos where air service has been drastically curtailed by the major airlines.
Patriot plans its first revenue flight in mid-November, when it will carry a casino group from Dallas to Lafayette, La.
The airline's sole shareholder is Beta Capital Group L.L.C., a Dallas-based investment group that consists of seven wealthy businessmen, all former top executives at major companies. The group started business in June and is providing consulting services in a number of areas, according to Bruce Leadbetter, Beta Capital's chairman.
Leadbetter said the partners should know within six months to a year whether their investment will pan out.
"We think there's a real market for this kind of high-end airline," he said. "The majors are…