LONDON – In one of the most bizarre 14-day twists for the new UK-based carrier, Hans Airways has now secured the new funding required to continue with its plans to operate Airbus A330 flights from Birmingham, UK to Amritsar, India.
A Quick Recap
It was only 24 hours ago that reports were published about the airline going insolvent, with a rescue plan being placed on the table but with no confirmation of any new investment being mentioned it seemed to many unlikely that the carrier would ever see the light of day, with it still waiting for the operating certificates it needs, despite it having already taken delivery of its first aircraft earlier in the year.
The reports had begun circling after AviationSource had been given access to documents which had stated the airline was filing for insolvency and when Bryabn Southon approached us, he confirmed that he had not been paid for months for his services to the airline, it began to paint a very grim image for the future of the carrier.
In the email, Paul Bradley, the Director of Continuing Airworthiness Management at the airline, said the following after his apology for lack of payment:
“Also, for your information, since then, I am also very sorry to have to report that Hans Airways is currently insolvent. We are, however, exploring the potential option of a rescue plan.”
Alison Chambers of Emerald Media stated that she was “aware they are restructuring” and stated that this should “be as early as next week” for such restructuring efforts to be announced.
New Investment Preps Airline For Launch
As stated before, in the last few hours on November 15, the carrier released a press statement sharing the details of their new investment package, which means that the UK’s Civil Aviation Authority is understood to be happy with, meaning they meet the requirements needed for the Air Operators Certificate.
The airline said: “The secured new investment will take the airline to the next stage toward satisfying the CAA of its financial viability and subsequent operating licence to provide revenue air services.”
Alongside the new investment, there has been some reshuffling of the executives and board members, with former CEO Satnam Saini being appointed as a Board Director, with COO Nathan Burkitt taking over his role. Dr Barry Humphreys has now assumed the role of interim Chairman, succeeding Ruchir Verma.
AviationSource had the great pleasure to interview Mr Sanini earlier in the year and has loved the passion and vision he has for the new airline. Commenting on this new role he said: “I am entrusting Nathan and his fine team to deliver my vision for Hans Airways. It has been a long journey and I look forward to continuing supporting as Board director,” said Satnam Saini.
Hans Airways Chair Dr Barry Humphreys commented saying: “Establishing a new airline is never straight-forward and there will inevitably be hurdles along the way. Hans Airways is now well-positioned to move forward. With growing evidence of strong demand for additional air services between the UK and India, supplemented by charter opportunities, we have every expectation of being able to launch,”
We will now wait to hear more details from the carrier as it will hopefully soon lay out its plans for the first commercial planned services and also hopefully discuss any changes to the wider vision for the airline’s future moving forward. One thing is for sure, however, that in a time with so many struggling airlines and the demand for travel continuing to grow, the airline is in a great place to catch up and expand into one of the fastest-growing travel markets in the globe.