Powdair, the new start up airline which had planned to fly from six UK airports to Sion airport on the Swiss Valais, close to some big ski areas like Crans Montana and Verbier, has now announced that it will not offer any services this winter.
They say that they will automatically be organising full refunds for everyone booked to fly with them this winter – they earlier claimed to have 5,000 customers.
At the start of this week the airline said its key investor had pulled out and that it needed to raise £1m by the end of this week and £3m in the short term in order to take off as planned in a fortnight's time.
Their online statement today states:
"We have both good and bad news for powdair passengers booked to fly with us this winter season.
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."
The statement continues that powdair is not going into administration and expects to relaunch during 2018.