Scottish start-up carrier aims for funding
Wednesday, 15 Oct, 2009
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Nimbus Airlines, which aims to become Scotland’s national carrier, will be pitching for investment at The Get Funded Show@World Travel Market next month.
Founder Struan Johnson spoke with Tom Ellum, director of The Get Funded Show, about his motivation, challenges and why he is looking forward to pitching at the event on November 11-12.
Q) Tell us a little bit about your company – what made you decide to start it?
A)I saw that there was a gap in the market when I tried to arrange a journey from Central Europe back to Scotland. There was virtually no direct flights. The only ones were with Ryanair and the fares were quite expensive – unless they had been booked weeks in advance. Subsequent investigation showed that Scotland is very poorly served by airlines in general and I could see that there was a need going unanswered.
Q) When was your eureka moment, most challenging moment and most enjoyable moment?
A) After kicking the idea around for a while, discussing it with friends, colleagues and with some local chambers of commerce I suddenly realised that there was no such thing as a Scottish airline that served scheduled primary destinations in Europe. I also realised that there was space in the market to recreate, to a certain extent, the ethos of British Caledonian; where the passenger was the focus of the business.
Currently I am sitting in the most challenging part of the whole process – trying to find funding! As for enjoyable moments – once I have the funding in place I can start to think about that….
Q) And some information about the team?
A) We currently have a very experienced team consisting of the former CEO of Luxair and VLM – who will take the position of CEO. He has many years experience with a number of successful airlines.
Our CFO has over 25 years experience with an international shipping, transportation and aviation group and also ran his own successful aviation business consultancy practice. He is experienced in airline financial management, business and strategic planning, aircraft and route analyses and airline operational start ups. His airline experience includes Ambassador Airways, Amber Airways, Emerald Airways and Euroair. In recent times he has been project leader and planning advisor for two proposed Irish airline startup ventures.
Our director of flight operations has been in aviation since he was 17, introducing Boeing 737-300, Boeing 757-200 and Airbus A320 aircraft into the fleet, while achieving captain and training captain status. He has extensive experience with many different airlines. In a nutshell, the team is one of the strongest parts of Nimbus.
Q) With many established airlines struggling and start up airlines having a terrible track record how will you make sure you are successful?
A) We can see a lot of opportunity in the market right now. While other airlines are struggling to survive, as a start up we will be that bit more agile in being able to spot and fill niche routes. We will be able to negotiate much better deals on aircraft leases, airport charges and employment contracts for our staff. Office space is easy to find and good deals can be struck in the current environment.
The combination of a skilled experienced and enthusiastic management team combined with a growing market in Scotland and Edinburgh will allow us to create and consolidate our business into a successful business that can steadily grow and provide a good quality service to the people and businesses of Scotland.
Q) Why is your company set to impact the travel industry?
A) We will be aligning ourselves very strongly with the “Scotland” brand. We are Scotland’s new national airline and the success of Homecoming Scotland 2009 has shown the power of that brand on the international stage. The golf, whisky and high quality tourism market has much to commend it and we can tap into that with our branding and marketing strategy. Inward investment in Scotland is crucial to the industrial base, and by improving the transport links we will become an integral part of the country’s infrastructure.
Q) In five years time…what will the travel industry be like and where will your company fit in or will you be on a beach sipping cocktails after a centi-million exit?
A) In five years time the travel industry will probably be at the top of a cycle again and we anticipate that we will be making our company ready for an initial public offering. By that stage we will have consolidated our position in the market and will be looking at substantial expansion – possibly even offering transatlantic flights direct from Scottish airports.
Q) What’s the most important thing you want to get out of The Get Funded Show?
A) Funding – obviously, but also the ability to meet with people that may be able to bring to our business more than just capital. Experience, contacts and knowhow are also important and valuable assets that can benefit a start up company such as ours.
Q) So…top investors, senior travel executives and the world’s travel press – how are you going to make sure you stand out from the other 24 companies pitching?
A) Should I bring my bagpipes? Seriously though, I am confident that we have a compelling and exciting business plan that warrants investment and will create a successful high growth business. It is also a business that will be flying the flag for Scotland around Europe and that will allow any investor who wishes to do so, to increase their media exposure.
*Nimbus Airlines (www.nimbusairlines.com) will be pitching to an assembled audience of senior travel executives, investors and the world’s travel press at The Get Funded Show@World Travel Market. Organised by EyeforTravel, on November 11-12, the show offers innovative travel companies mentoring from travel veterans, worldwide publicity and real investment opportunity. For more information on the show please go to www.getfundedshow.com.
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