"Your shares could enjoy potentially high returns. With shares ownership, you can enjoy further benefits including discounted flights for friends and family and job opportunities with Air Sylhet."
"If Air Sylhet achieved its predicted profit after tax of £9,886,464 then Air Sylhet could be valued at £148 million (£9,886,464 x multiple 15). This is based on a conservative price earning (P/E) ratio of 15. Currently P/E ratios in the Airline industry are running higher including Easyjet at 29* and Ryanair at 30*."
Cryano,
Correct - they are seeking a floatation in 2008. I would assume that a private deal is just that, but this is an online attempt to solicit the purchase of shares, backed up with a road show in local curry houses.
Reading the profile of the chairman, I certainly sense a massive ego trip:
"Shah is a natural leader and is usually the first to identify problems to be overcome. If it becomes clear that a chosen solution to a problem will not work, he will rapidly identify an alternative problem-solving approach. He does not allow his ego to prevent him from seeking facts and guidance. When he needs help, he will not hesitate to admit it - especially in areas that are outside of his immediate expertise. During tough business periods, he will concentrate his resources and energies on essential business operations. He has a considerable amount of self-control and can handle business pressures and is most comfortable in stress situations, responding to challenges rather than being discouraged by setbacks or failures.
Shah is a keen sportsman and enjoys weight training. He prefers games where the mind directly influences the outcome and pace of the game. He has a strong personal drive and high energy levels, he is achievement-oriented and he is tireless in the pursuit of his goals."
This was picked up by the Brum post, but they don't seem to have any further concerns about it.
At best, this is just a very ambitious paper airline project with a naive attempt to gain funding. At worst, there are a lot of people who could get conned by the obvious appeal of a lucrative route network which remains massively underserved - whatever the technical constraints of operating point to point BHX-DKR/ZYL (note - they haven't looked up this code yet on their booking form) may or may not be!