Tag Archives: Odyssey Airlines (UK)

Odyssey Airlines raises its target capital via crowd sourcing

Odyssey Airlines (UK) has issued this statement about its attempt to raise its initial capital:

Odyssey Airlines, the new UK-based business-only carrier, has successfully raised its minimum target of £ 1 million via crowd funding on the UK-based platform Crowdcube.

Odyssey’s Crowdcube investor pitch has raised £1,049,230, or 104% of its target on the site.

Odyssey has already raised over £5 M in seed capital, including having engaged Freedman & Partners to raise £2.185 million via the ThinCats platform in 2013, and the company will be targeting a raise of £60 M via a round of traditional institutional fund raising in the first half of 2015.

Adam Scott, CEO of Odyssey Airlines, said:

“We are delighted to have raised our primary target amount on Crowdcube. Beyond raising seed capital, the key objectives of our crowd funding campaigns have been to raise the profile of Odyssey, develop a captive audience of long-term supporters and future customers, and to provide an opportunity for individuals to directly participate in the launch of an airline who would have otherwise been unable to do so in the past. We have achieved all of these objectives.

Odyssey is a truly innovative and modern business in all aspects, including its funding strategy. Achieving this important milestone is further evidence of that and investor confidence in our proposition. We would like to thank those who have invested in Odyssey so far; it’s an exciting time to be a part of the company.”

Odyssey plans to launch all-business flights between London’s City Airport (below) and New York in 2016 with Bombardier CS100s with 40 lie-flat seats.

Images: Odyssey Airlines.

Odyssey Airlines (UK) to use crowdsourcing to raise capital and to start operations

Odyssey Airlines (UK) (London-City Airport) further to our previous reports, is a paper airline that is now planning to use crowdsourcing to raise its operating capital in order to begin operations from London City Airport in 2016 with Bombardier CSeries aircraft. The airline was incorporated in September 2010 and its registered director is Adam Scott, born 1979, who is also listed as a director for Calypso Aviation.

As we previously reported, Bombardier Aerospace (Montreal) disclosed that a previously announced firm order for 10 Bombardier CS100 aircraft was placed by Odyssey Airlines. The firm order was announced on June 24, 2011.

The would-be airline describes itself this way:

Odyssey Airlines will begin offering premium nonstop business class services direct from London City Airport to other major cities worldwide from 2016. Planned destinations include convenient and easy to access city centre airports in North America, the Middle East, and beyond.

Steeped in airline experience, the Odyssey team includes executives from other full-service and premium-only airlines. Odyssey will deliver convenient city centre departures, stress-free on ground experiences, nonstop routes, and exceptional service from door to door. Odyssey has been developed specifically with the time-conscious traveller in mind.

Utilizing an innovative seat configuration, Odyssey will operate the more fuel-efficient and greener Bombardier CSeries jet aircraft. The experience will be more akin to that of a private jet, including an all-new interior configuration, windows that are 40% larger than other aircraft, the longest fully flat beds in the commercial market, and many other features that we can’t wait to tell you about!

The Team: CLICK HERE

According to City A.M.:

“A new airline set up by a Goldman Sachs alumnus, which hopes to bring back business class-only flights to the States, is raising up to £5 million through crowd-funding.

Odyssey Airlines was founded by Adam Scott, a former banker who has assembled a team of start-up veterans including some of the founders of Silverjet, whose closure in 2008 was thought at the time to mark the end of such high-end carriers.

The airline has ordered 10 Bombardier CSeries planes, which will enable Odyssey to operate nonstop flights from London City Airport to New York when it launches in 2016. Scott is also sizing up other destinations up to eight hours from the capital.

Other trans-Atlantic operators at London City must stop at Shannon Airport to refuel, as City’s shorter runway and steep takeoff mean heavier aircraft are unable to leave with a full tank.

The Bombardier CSeries was “designed specifically for London City and difficult airports in mind”, Scott said. “In my own experiences of travelling, there’s nothing more frustrating than all the aggravation of going through big hubs, so I’m trying to find solution to those issues.”

The firm has launched a £5 m fundraising drive on the Crowdcube investing platform, which follows last year’s £2.185 m raising through the ThinCats peer-to-peer lending site.

At the time of writing, Odyssey has attracted investment of more than £252,000, taking it well on the way to its minimum Crowdcube goal of £1m. No word yet on the identities of the 32 early investors.”

Odyssey Airlines is confirmed for 10 Bombardier CS100 aircraft

Bombardier Aerospace (Montreal) disclosed today that a previously announced firm order for 10 Bombardier CS100 aircraft was placed by Odyssey Airlines, a new airline that intends to operate from London City Airport. The firm order was announced on June 24, 2011.

According to Reuters, Odyssey Airlines plans to launch nonstop business class flights from London City Airport to New York and other destinations in Europe.

Image: Bombardier.

Odyssey Airlines wants to fly London City-New York with Bombardier CSeries aircraft

Odyssey Airlines (London) is a new start-up paper airline that wants to fly business class flights with 10 newly-ordered Bombardier CSeries passenger jets between London (City) and New York according to this report by the Business Report and Reuters.

The flights would be in competition with the British Airways Airbus A318 flights.

Read the full report: CLICK HERE