Powdair Postpones Launch of New Airline Until Next Season
Powdair postpones launch of new airline after main backer walks away and new investor walk in!
Following all the excitement of Powdair’s intentions to launch their new airline this month, it suddenly wrote to all customers last week to say that their major investor had walked away! The company then approached the Powdair community to ask for investment. This resulted in a major investor coming forward to back the airline. However, due to due dilligence, which is understood to take around a month, the decision was made to postpone the launch of this much wanted service from the UK to Sion until next season.
Here Powdair’s latest statement:
“Firstly, we’ve had a significant investment offer from a professional and experienced aviation industry investor. Although we’re not in a position to confirm the identity of our new potential partner at this stage, their involvement will secure the financial future of powdair.
However, the due diligence required to finalise this investment will take at least 30 days and we have therefore made the difficult, but what we feel is correct decision, not to launch powdair this winter. Our new investor wishes to ensure that all necessary steps are taken to launch a strong, well-funded airline focused on long term success.
..Powdair is not going into administration. The company will continue to exist, albeit with a longer timeline for getting planes in the air.
We expect to relaunch during 2018 as an airline, operating our own aircraft, which gives us a much stronger basis on which to plan route schedules.
In the meantime, we will automatically be organising full refunds for everyone booked to fly with us.
We’d like to thank each and every one of you who’ve been in touch this week with your sincere messages of support. We strongly believe that a huge opportunity exists at Sion Airport, your support this week makes us more determined than ever. At the same time, we apologise sincerely for the disruption to your travel plans this winter. We truly hope that we get the opportunity to welcome you on board next year”.