Chris Jasper/LONDON
UK all-business class start-up Blue Fox Executive Airlines says it will press ahead with plans to launch next March despite the US slowdown, and has no worries about raising £65 million ($100 million) in launch funding. Blue Fox will offer a twice daily London Stansted-New York JFK service with Boeing 767-300ERs in an all-premium 138-seat 2-2-2 layout.
Chief executive Derek Jewson says the downturn could heighten the appeal of cut-price business tickets priced at £1,200 return, or - he claims - 40% below rival offerings. A decision on fundraising will be taken in 6-8 weeks. Institutional investors may be preferred, but a public offering is not ruled out.
Jewson claims business travellers will accept Stansted as a "London airport", while departures will be timed to avoid a clash with Continental Airlines' Stansted-New York Newark service, launched this month. Helicopter links to London will be offered.
Blue Fox will employ three 767s, one acting as a Stansted-based "spare" due to a lack of fall-back carriers there should an in-service aircraft fail. It will decide between two aircraft lessors by September.
The carrier's business plan envisages break-even at a 50% load factor by year three. Services to Washington DC and Boston may follow nine months after New York, and to Los Angeles and San Francisco after 18 months, with the fleet expanded to five 767s. Chicago, Philadelphia and Dallas are other possibilities.
Source: Flight International
