Powdair faces cash difficulties

Published on : Thursday, November 30, 2017

powPowdair announced that it will not be able to commence flights next month as a key investor walked away.


The start-up winter sports airline requested its passengers to make investments to ensure its launch after a key backer pulled out.



The ‘virtual airline’ registered in Ireland plans to operate flights via an investment in Backbone Aviation which is a company expected to operate a 50-seat aircraft on its behalf.



Powdair needed £1 million within  a week and  £3 million to last the season, the airline aims to fly to Scion airport in Switzerland from a number of UK airports including London City, Manchester and Bristol.



Sean Pettit the chief financial officer said on Facebook that the key financial backer walked away from the Powdair journey for personal reasons.



The December 11 launch date of Powdair  is expected to be postponed.



Pettit further added that at this point community ownership was realistically the only way to make the airline operational.



He was personally interested in owning either a  small or large part of the airline.



There were 5,000 forward bookings and 85 season passes sold and  it will be getting in touch with clients who would be travelling between December 11 and 17 in order to discuss the existing booking.

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