We are a dynamic growing airline, who has very recently secured further funding for increased expansion. We will be going places. To have expanded from no aircraft to three non conventional refits and cabin types within a year is somewhat of an achievement I believe. The future is looking very bright for us.
In May 2006 they raised £25.3 million by an IPO at 112p/share
In April 2007 they raised £26million by issueing new shares at 180p/share.
At the end of september they had only £14million left and the accounts were quailfied with a comment from the accountants about them not being a going concern unless the raised more cash.
Yesterday the reported they were to raise £22 million by issueing new shares at 60p/share and a loan convertable to shares at the same 60p/share.
The planes are sold off to a leasing firm. Most of the cash has been burned running the airline at a massive loss. The future will only be bright if the crude oil price drops back a lot.