Unabashed US start-up Avatar revisits ambitious 747 plan
US would-be start-up Avatar Airlines has again submitted ambitious business plans to regulators, after failing in previous attempts to obtain a declaration of financial fitness. Avatar claims that it plans to raise US$300m to fund the acquisition of 14 Boeing 747-400s configured with 581 seats. It has also set out intentions to fund expansion to a fleet of 30 747-8s through an IPO in 3 to 5 years' time. The US DoT has yet to respond to this latest iteration of the company's strategy. It dismissed a previous filing by Avatar in 2017, after several years of trying to obtain more detailed information about the company's plans for a private placement to raise $300m, and describing its application as "largely deficient". Avatar claims it can tap the advertising market to provide the income stream necessary to cut fares to "ultra-low" levels. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2019-11-22/unaligned/unabashed-us-start-up-avatar-revisits-ambitious-747-plan
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Unabashed US start-up Avatar revisits ambitious 747 plan
US would-be start-up Avatar Airlines has again submitted ambitious business plans to regulators, after failing in previous attempts to obtain a declaration of financial fitness. Avatar claims that it plans to raise US$300m to fund the acquisition of 14 Boeing 747-400s configured with 581 seats. It has also set out intentions to fund expansion to a fleet of 30 747-8s through an IPO in 3 to 5 years' time. The US DoT has yet to respond to this latest iteration of the company's strategy. It dismissed a previous filing by Avatar in 2017, after several years of trying to obtain more detailed information about the company's plans for a private placement to raise $300m, and describing its application as "largely deficient". Avatar claims it can tap the advertising market to provide the income stream necessary to cut fares to "ultra-low" levels. <br/>
