Low-cost Swiss airline launches fund raising to get airborne
ZURICH, Sept 12 (Reuters) - Swiss Skies, a low-cost airline
that aims to launch in the second half of 2019, said on
Wednesday it was seeking to raise more than $100 million in
start-up funding this week.
The company, which will focus on North American destinations
from Basel before expanding to other European bases, expects to
have $1.5 billion in revenue within five years and to be
profitable in its third year.
It said it aimed to have a fleet of 38 aircraft with 1,900
employees serving 45 destinations across five continents
eventually, without giving a timeline.
"We aim to be a true disruptor of the airline industry,"
said co-founder Alvaro Oliveira, a Swiss pilot and former
director of flight operations at Brazil's Azul Airlines.
The low-fare model has come under pressure, with companies
like Air Berlin and Monarch collapsing last year. But Oliveira
said there were gaps in the market that Swiss Skies could fill.
"Many transfer passengers are tired of needing to connect
via big hubs in Europe or USA. These travelers will be delighted
by direct international flights from their nearest uncongested
airports, cutting travel time by 30 percent at substantially
reduced cost, and with greater comfort," he said.
Swiss media has said one of carrier's routes could be
between Basel and Cincinnati, linking chemicals and
pharmaceuticals companies in both cities.
The airline said it planned to use 190-seat Airbus
A321neo long-range aircraft.
(Reporting by John Revill
Editing by Edmund Blair)
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