Start-up airline Odyssey has raised more than £5 million in its first round of funding via online crowdsourcing.
The UK-based airline, which is launching business-only flights from London to New York in 2016, is starting a second £5 million round this week and is expected to approach institutions next year for a further £60 million, theFinancial Times has reported.
All business class airlines haven’t fared well in the past with ventures such as Maxjet, Silverjet and EOS all failing.
Odyssey’s chief executive Adam Scott said technological change would prevent his venture suffering the same fate.
“We are not going to be a discount airline,” adding that previous ventures were hamstrung by flying out of Luton and Stansted, their high overheads, and their pre-crash timing.
“This is more about the traveller’s experience and getting rid of the aggravation of having to go through big airports,” he said.
In June last year Odyssey placed an order for 10 Bombadier aircraft in a deal worth $628 million to operate the route from London City airport to New York.
The carrier will offer 40 lie-flat seats and as well as New York is looking to fly to other destinations in North America, Europe and Middle East.