New Startup Airline Seeks Funds By Crowd Sourcing
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New Startup Airline Seeks Funds By Crowd Sourcing
Here's an interesting way to start an a new airline in Australia.
https://www.heraldsun.com.au/busines...1c97fd32ec0b2d
https://www.heraldsun.com.au/busines...1c97fd32ec0b2d
Pilots cannot run airlines.
I think Wille Walsh ex boss of BA and Carsten Spohr the current boss of Lufthansa might disagree that pilots cannot run airlines. Whilst management pilot is often cited as an oxymoron along the lines of hospital food and military intelligence there are some successful ones.
Seems like there's never been a better time to lose other people's money. Any bets on how little they raise?
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Let me rephrase. 99.9% of Pilots cannot run airlines.
short flights long nights
It has to be a wind up.. or these people are delusional .
Edit to say.. or a huge con.
Edit to say.. or a huge con.
Last edited by SOPS; 17th May 2021 at 10:28.
short flights long nights
From their Go Fund me page...if they don’t make their target, they will retain your funds ...
alert alert alert
alert alert alert
Last edited by SOPS; 17th May 2021 at 11:53.
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From there Go Fund me page...if they don’t make their target, they will retain your funds ...
alert alert alert
alert alert alert
You need alot more than that amount to get things moving. Plus they don't even know what aircraft type they will be operating yet.
Buyer beware..
"No all contributions are fully non refundable.No all contributions are fully non refundable."
Watch their consultancy fees gobble up all the funding..
This was done in Jersey about 15 years ago, except it wasn't call "crowd funding". A single half-page ad in the local paper invited people to call for a Prospectus, which had been approved by the financial authorities, and to buy as many £500 interest-bearing debentures as they wished in the new airline, called Islandair Jersey. Other perks were also offered, notably 2 free return seats a year to LGW.
About 350 residents did just that, investing a total of £285,000 within 2-3 weeks. They included most of the great and good, particularly financial movers and shakers. They probably accounted for 75% of the travel purchase decisions in Jersey.
The proposal was to recreate Jersey Airways with t/prop equipment, and take on Flybe, Aurigny and the embryo Blue Island head to head. It needed £2m working capital, at least, to get its AOC. Possibly nearer £5m, even then.
After failing to persuade the VCs and other lenders that few airline start-ups had such good backing and a ready market, the promoters returned the investments and killed the project.
Arguably, they failed due to lack of knowledge or experience of the finance industry, and should, of course, have drawn on the knowledge and expertise of their investors.
But it was a bold attempt.
About 350 residents did just that, investing a total of £285,000 within 2-3 weeks. They included most of the great and good, particularly financial movers and shakers. They probably accounted for 75% of the travel purchase decisions in Jersey.
The proposal was to recreate Jersey Airways with t/prop equipment, and take on Flybe, Aurigny and the embryo Blue Island head to head. It needed £2m working capital, at least, to get its AOC. Possibly nearer £5m, even then.
After failing to persuade the VCs and other lenders that few airline start-ups had such good backing and a ready market, the promoters returned the investments and killed the project.
Arguably, they failed due to lack of knowledge or experience of the finance industry, and should, of course, have drawn on the knowledge and expertise of their investors.
But it was a bold attempt.
Most of them would buy at least 10 return trips per year, more if you include family travel, and the offer was for only 2 per year. It was seen at the time as making it an attractive investment. It's the equivalent of share-holders perks in other companies, some of which are extremely valuable. Don't forget that seats that would otherwise be empty have no value, so you're not giving much away. It's the fundamental basis of inter-airline staff travel, freebies for travel agents, and so on..