28-Nov-2017 7:55 AM

PowdAir seeking investors as key financial backer walks away

PowdAir stated (28-Nov-2017) its key investor "walked away... for personal reasons". PowdAir is considering two options, either postponing operations and refunding customers or seeking a new investor. "At this late stage, community ownership is realistically the only way we'll be able to make powdair operational this winter", the airline stated. As previously reported by CAPA, the virtual carrier planned to commence operations on 11-Dec-2017. PowdAir stated 5000 bookings were already placed by customers and 85 "season passes" were purchased. The carrier also partnered with 17 resorts in the Valais and Portes du Soleil. [more - original PR]

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