The ski-focused airline Powdair was to fly its first passengers on 11 December 2017. That was the plan anyway.
In an email earlier this week the company said: “This morning our key financial backer walked away from the powdair journey for personal reasons….We’re faced now with two options. We either postpone starting powdair this winter – in which case, those of you who’ve already booked flights would be guaranteed a full refund….or, 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.”
The company says it needs to “…secure at least £3 million to operate this season and at least £1 million by the end of this week in order to operate a reduced but efficient flight schedule this season.”
Yesterday the company came out with a range of pledge options which would entitle pledgers to certain ticket discounts. These are not investments. The company describes them as unsecured, not protected, with complete loss and no realistic recovery to be expected if the airline goes bust.