Point-to-point direct flights from UK to secondary cities in India at highly competitive return fares, with £350 as the “from” return ticket price. Team ex-Lotus F1 Racing founder, BA, Emirates, Ryanair, EasyJet and UBS. Seeking final £6m - £2m already committed.
- £2m already committed to this round and funds to be held in escrow
- Aiming to serve return flights to India & South Asia for £350 return
- World class team ex-Lotus F1 Racing, BA, Emirates, Ryanair, EasyJet and UBS
- Non-Stop routes to Ahmedabad and Amritsar secured for flypop
- Wet-leasing (ACMI) terms agreed to lease Airbus A330's when ready
- Target: £6,000,000
- Minimum: £25,000
- Investment Raised: £2,000,000
- Previous Rounds: £100,000
- Stage: Pre-Startup/R&D
- Investor Role:
Flypop aims to be a unique new British low-cost long-haul (LCLH) airline providing affordable non-stop flights between the UK (London Stansted) and secondary cities in South Asia starting in India’s Amritsar (Punjab) and Ahmedabad (Gujarat) but will aim to very quickly start flying Visiting Friends & Relations (VFR) South Asian diaspora from North America & Europe "home" to South Asia via the UK.
flypop's un-bundled product allows passengers to choose the level of comfort they want and puts the customer first. Their service will offer convenient non-stop flights targeting return ticket prices from £350. The team can pass cost savings back to consumers via lower taxes to tier 2 airports and attractive 'wet' lease agreements.
The UK Census recorded 1,451,862 residents of Indian, 1,174,983 of Pakistani and 451,529 of Bangladeshi ethnicity, making a total South Asian population of 3,078,374 (4.9 per cent of the total population), excluding other South Asian groups and people of mixed ethnicity.
The visiting friends and relatives (VFR) and tourism sectors are the fastest growing market segments in India. This growth is similar for the Bangladeshi, Pakistani & Sri Lankan diaspora living in the UK.
3 million return passengers per year (250,000 seats p.c.m) fly directly or indirectly between the UK & India. Almost 750,000 travel on to Punjab from Delhi and 625,000 travel on to Ahmedabad from Mumbai.
Strategic and financial modelling complete in conjunction with PwC. The flypop team also have agreed provisional 'wet' lease agreements to lease planes complete with the aircraft, crew, maintenance and insurance (ACMI).
Significant planning has already been undertaken by the highly experienced management - first flights operational within 6 months of funding .
The proposition offers a de-risked business model with a phased destination roll-out, commencing with routes to two high-demand destinations in India.
UK Minister of Aviation has written to Indian counterpart calling upon the EU-India Bilateral Air Service Agreement to designate the UK to Ahmedabad and Amritsar non-stop routes to flypop, which are currently unutilised.
Flypop is undertaking a phased licensing strategy with the CAA to de-risk the approach, minimising investor exposure.
Flypop is currently undertaking a £6m round of which £2m has already been committed. All funds will be held in escrow until the total amount is secured offering investors assurances that their money will only be deployed once all funds are in place.
Please see our team bios on the Management Team page.
Further information on the team available upon request.