Operating Airline
The Company has achieved significant funding success, raising a total of £16 million - £10 million was obtained from the UK Government's Future Fund, and an additional £5 million was raised through private equity.
The airline currently operates Passenger charter flights. This is expected to be the last equity raise before IPO.
Management has vast experience and a proven record working for the biggest European ULCC. The Indian GDP is forecast to be USD 8-9 trillion by 2030, the third largest globally.
Location
United Kingdom
Investment Needed
GBP 10 Million
Capital Via
Equity / Debt / Guarantee
Use of Funds
Capital requirements to obtain the UK Air Operator Certificate (AOC)
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£2.5m Equity triggers conversion of the UK Treasury Future Fund Convertible Loan
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£7.5m can be any combination of equity, debt, or guarantee
Business Model
Virtual Airline with a Low-Cost Non-Stop model
Target Market
Indian/South Asian diaspora markets connecting the UK & North America to South Asia.
Other markets to follow.
