AMG Ventures, a business accelerator run by consultancy Airline Management Group, has taken a small stake in Ecojet Airlines as part of its backing for the environmental start-up.
Clean energy entrepreneur Dale Vince in July announced the creation of the airline with the goal of decarbonising aviation.
Ecojet’s directors are listed as Vince, Brent Smith – a pilot who runs consultancy Altsel Aviation – and Peter Davies, the former Air Malta chief executive and current AirLink chair who is also a director of Airline Management Group and AMG Ventures. To date, Ecojet has not clarified Davies’s role at the carrier.
Documents recently filed to the UK companies’ registry show that Smith, who set up EcoJet as Fresh Airlines in August 2021, is the largest shareholder with a stake just shy of 68.9%. Vince, meanwhile, holds a 25% share, and AMG Ventures the 5.9% balance.
Initial services are to begin in early 2024 linking Edinburgh with domestic destinations using a fleet of small passenger turboprops running on sustainable fuel. These will subsequently be modified to use hydrogen-electric powertrains.
