(From the New York Times) Verified Identity Pass, a company founded by the entrepreneur Steven Brill, offered travelers a tempting proposition: pay up to $199 a year, submit to a fingerprint and iris scan, and skip to the front of interminable airport security lines.
An investment banker is trying to revive a company that provided a service called Clear, which allowed its members to bypass airport security lines.
But last June, the company left its roughly 200,000 paying customers stranded, saying that it was ceasing operations and did not have cash to offer refunds.
Now it appears those customers will get a break. Kurtis Fechtmeyer, an investment banker based in Emeryville, Calif., said on Tuesday that his new investment group, Henry Inc., had signed a letter of intent with Morgan Stanley, the defunct company’s largest debt holder, to buy its assets and reopen its fast-lane security service, called Clear.
Mr. Fechtmeyer said his group thought it could bring back the service as soon as this holiday season. It will offer former Clear members, some of whom had paid for years of the service in advance, the option of rejoining with their membership intact.
Read more here: ‘Clear’ Security Service May Return at Airports