Dear Investor,
Management of North Sea Air is proud to announce an Initial Public Offer (IPO)
North Sea Air is a strong regional player in the Mediterenean Sea with connections to Europe (London, Amsterdam and Brussels) and countries nearby (Italy, Egypt, Lebanon, Istrael, France, Spain, Tunesia and Algiers). Malta Hub offers short time transfer time for Business Class Passengers and Coach Class Travellers. Brand new Embrear 175/195 and BAE ATP (Turbo prop) are the backboone aircraft types of companies fleet.
Financial policy of the company is based on a solvability of 2 weeks before investments into capacity increase or network is being carried out. Solvability means that cash is available to pay salaries and lease amounts for two weeks in a row.
investors are invited to subscribe. In case of any further questions you are invited to send an email to CEO McRonald.
Kind regards,
McRonald
CEO North Sea Air
Newsflash week 18 results:
“According expectations” These words were mentioned by CEO Mr McRonald during the Weekly Investors Meeting. “Seat Load Factor is increasing by another 5 points. North Sea Air balance position increased with 20% after 2 weeks of operations. I am satisfied but unhappy also. Growth of the company is on hold due to cash shortage. We can pay our lease and salaries easily and do save money for leasing or buying new aircrafts. But the saving is going too slow. North Sea Air opened a IPO but not successful. I can understand that, because we are all starting companies and not every company has funds available to invest.”, according Mr McRonald.
During last week North Sea Air took a share of A$ 300K Bolas Air and bought the first ATR72-600 aircraft. North Sea Air choose for ATR instead of a second BAE TPA. “We expect that ATR will meet our financial requirements in a better way than the existing BAE TPA”, according Chief Fleet Management who joined the meeting as well. “It doesn’t mean that the BAE TPA aircraft will be replaced soon, but we think that BAE TPA will not become the backbone of our fleet. We are satisfied about the performance of our EMBREAR aircrafts. We would like to lease more, but as said before, we do not have the cash.” Mr McRonald explained the hard circumstances we are at to get the reasonable funding. Lease companies do ask high deposits for the aircraft. Money we cannot use for operations. Secondly the interest rate for loans are too high. To pay more than 6% a week is absurd. That means that AS Bank is getting 312% a year on interest. Totally out of control they are, but we have to deal with that.
In week 18 North Sea Air connected 22 destinations.