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An important powdair update...

Direct News Source

28-Nov-2017 Since the powdair journey commenced two years ago, we've done our very best to be open and honest about the prospects and opportunities of our fledgling airline. After all, new airlines don't launch every day and we've faced many expected and unexpected challenges along the way.

What's the point of powdair? 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.

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.

In a nutshell...

  • Over 5,000 people have already booked flights with us for this season
  • More than 85 of you have signed up as Season Pass holders, already buying between 10 and a whopping 80 tickets each to fly with us this season!
  • We've already been awarded Best Start-up Business in the World Snow Awards
  • We're officially partnered with 17 resorts in the Valais and Portes du Soleil, including Verbier, Crans Montana, Nendaz, Anzere, Thyon 4 Vallées, Morzine, Champéry, Avoriaz, Châtel and Les Gets - and already have a raft of events and marketing activity planned with them
    We're working with hundreds of Valais, British and Belgian businesses - big and small - to ensure that both they and our powdair passengers benefit from everything we do
  • 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 11th 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.

If you would like to invest in us, please email investors@powdair.ski immediately for further information.**

A word from Sean Pettit, our Chief Financial Officer:

"Just as the powdair operation begins to snowball, today's setback is 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."

Please bear in mind that we're a very small team working with limited resources and we need 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.

The powdair Team

*If you're booked to fly with us between the 11-17 December, we will be contacting you directly to discuss your existing booking.

** This communication has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000, as amended ("FSMA"). This communication is not an offer capable of acceptance. This communication does not constitute an offer of transferable securities to the public within the meaning of sections 85B and 102B of FSMA and it is being delivered for information purposes to persons who have previously consented to receive such communications. 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.