UK: Ex-Lehman trader seeks fix to capitalism in crowdfunded airline

As a bond trader at Lehman Brothers Holdings and JPMorgan Chase & Co., Navdip Singh Judge worked for spreads and bonuses at temples of modern-day capitalism. Now, he says the global capitalist system is broken and he’s looking to mend it. The Briton of Indian origin isn’t your typical aviation entrepreneur. With business executives the world over wondering about the economic impact of Brexit, Judge aims to start a crowdfunded budget carrier by raising GBP8.5m that will fly a single plane between London and some Indian cities. He has vowed to plow most of the profits into charity. The plan is to raise 3.5m pounds from the public online, and 5m pounds more from wealthy individuals using a UK tax-saving plan. “I am not trying to reinvent any wheel or criticize anything,” said Judge, who’s now at BGC Partners Inc. “The only thing I am doing is to modify capitalism -- that’s the inclusive part, where businesses support society and the planet.” Judge, 51, has little history of a crowdfunded airline to draw inspiration from and airline industry’s past is riddled with failures, billions of dollars in losses and low profit margins. Judge says his venture hasn’t yet managed to get the desired response since the two-month crowdfunding campaign was kicked off on June 1. He declined to reveal how much he has raised so far. Backers won’t get an equity stake, but will get loyalty benefits and upgrades. He has less than a month to achieve his goal. “Many come to this industry and they have ideas,” said Harsh Vardhan, chairman of New Delhi-based Starair Consulting. “But only after you get the aircraft flying can you claim that you’ve set up an airline.”<br/>