ISLANDAIR JERSEY could be a new name to add to the UK airline scene. At the moment no more than a virtual airline (the 21st century name for what we used to call a ”paper carrier”), the operation is being put together by a group of aviation-knowledgeable, wealthy and forward-looking Jersey people, who say they are fed up with the way the island is being dealt with, scheduled traffic-wise. In early January, an Offer for Sale of ”500 Debentures in ”Jersey”s Own Airline” was sent to about 1,500 people who had already registered an interest. A couple of adverts were placed in the Jersey Evening Post. Local TV and radio ran the story for a day. The Offer simply presented the proposition that if enough funds were subscribed, 10% would be used to work up a sound financial and operating plan, 20% to prepare for operations, and the remaining 70% to sustain the company”s initial services. If at any point in this process the Directors decide it is not worthwhile proceeding, they would immediately stop all spending, and return any unused funds. The promoters are still reeling from the result. They will not release figures, beyond saying that the Offer exceeded all expectations; there are hundreds of applications, each for between one and 20 debentures. Each debenture holder is entitled annually to one free return journey on the company”s services for each debenture held. Mainland airlines are said to be offering code shares and material help. No first flight date has been given nor routes published.
http://www.jersey-airline.com