Another US start-up still looking for cash

Dino D'Amore
By Dino D'Amore May 7, 2014 12:14

Another US start-up still looking for cash

Sarasota Airlines a new start-up backed by Steve Miller of Dragonair and Oasis Hong Kong fame requires $30m to lease four 737s, as efforts continue to start the airline which is hoping to fly to 24 cities, including Baltimore, Detroit, Indianapolis and Boston. We ran a similar story in September 2013, thus investors are not coming forward at speed. To be frank it is a worry to us here also – AirTran pulled out of Sarasota, granted, but with Frontier on the ultra-low cost march and the other US carriers looking very strong indeed this is one tough market to break into and make a profit.  With passenger traffic having declined some 38% over the last six years out of Sarasota Miller is up against it to prove that his venture has the business plan to pull-in the passengers.

Dino D'Amore
By Dino D'Amore May 7, 2014 12:14
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