May 29, 2014

Odyssey Airlines launch public US crowdfunding to support development

Odyssey Airlines, the new UK-based business-only carrier, announced the launch of a capital raise on US platform Crowdfunder. It will run concurrently alongside a similar raise on the UK-based platform Crowdcube, which launched earlier this month, with the combined initiative targeting £5m (US$8.4m) to support the company’s next phase of development. The company has also confirmed the appointment of Virgin Atlantic founder David Tait and Dragonair founder Stephen Miller to its Executive team. The raise comes ahead of a significant institutional fund raise scheduled for the first half of 2015 – some 12 months ahead of Odyssey commencing operations from London City Airport, initially to points on the US East coast. Odyssey plans to launch the first and only non-stop transatlantic services from London City in mid-2016. It aims to deliver stress-free, business class travel, from the heart of London to destinations in North America, the Middle East, and elsewhere in Europe, for the time conscious traveller. Odyssey Airlines is among the first buyers of the revolutionary Bombardier C-Series aircraft, whose unique construction and advanced combustion technology engines will enable the only non-stop range from London City airport to New York. Odyssey’s C-Series aircraft will have 40 fully lie-flat seats and provide business class customers with a unique service to destinations within an eight-hour flying time of London.



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