Got a spare million pounds burning a hole in your pocket? You could be just the saviour fledgling airline Powdair is looking for.
The new airline, which launched in a blaze of publicity this autumn proclaiming new routes to Sion in Switzerland, lost its main financial backer this week and now looks unlikely to get off the ground.
Dublin-based Powdair now says it needs £3m in total – with £1m of that by the end of this week – or it will have to postpone its launch for this winter at least. It has now appealed to the ski community to step up and help with that funding.
It was due to start operations on 11 December. More than 5,000 people have already booked flights for next winter from a number of regional UK airports. They are being ‘guaranteed’ a full refund.
More than 85 people have signed up as Season Pass holders, already buying between 10 and 80 tickets each to fly with the airline this season.
Announcing its crisis in an email on Monday, Powdair said: ‘Opening up the incredible Swiss Valais region to skiers, snowboarders and year-round mountain lovers across Europe is our mission. Significantly reduced journey times direct to Sion rather than Geneva, improved transfer connections to resort, more time on holiday and for second home owners, better access to your investment, is the end result. But that's not where this journey ends.
‘This morning our key financial backer walked away from the powdair journey for personal reasons.
‘Without funding, we're now facing the situation of needing to postpone the start of our flight schedule for this winter season, which is currently set to commence on 11 December 2017. However, with your support we can still make powdair a success and take off as planned this winter. At this late stage, community ownership is realistically the only way we'll be able to make powdair operational this winter. We offer the airline to you, our army of passionate powdair supporters, in the hope that you'd like to own a stake in powdair and benefit in our future shared success.’
Sean Pettit, Powdair’s Chief Financial Officer, called the setback: ‘Both unexpected and potentially disastrous for our airline, booked passengers and resort partners.
‘Operational systems and strategies are already in place, whilst ticket sales are very strong and exceeding expectations. Powdair is ready to go, but we now desperately need investment. I'd personally like to hear from anyone interested in owning either a small or large part of our airline.’
There is a huge caveat to the community funding offer in that only persons who fall within certain categories set out in the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 will be permitted to invest in the company.
However, anyone who might be interested is urged to email
The crisis is hugely embarrassing for Powdair which has already been awarded Best Start-up Business in the World Snow Awards.
And it could prove costly for its 17 official resort partners in the Valais and Portes du Soleil, including Verbier, Crans Montana, Nendaz, Anzere, Thyon 4 Vallées, Morzine, Champéry, Avoriaz, Châtel and Les Gets – the airline already had a raft of events and marketing activity planned with them.
UK airports it has on its flight route are London City, London Luton, London Southend, Southampton, Bristol and Manchester.
