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An airline that once branded itself as the new ‘Uber of the sky’ for the Channel Islands is waving goodbye.
In a shock announcement on Friday afternoon, founder Nick Magliocchetti revealed that Waves' parent company would be going into voluntary liquidation "with a heavy heart" amid a turbulent few months for the organisation.
After suspending their service due to money troubles and failing to relaunch nearly two weeks later than originally proposed this week, Express learned that the airline’s plane had gone up for sale in Florida.
The airline had said that the single-engine aircraft was only out of action due to maintenance. No word was offered on the future of the airline until this afternoon’s statement.
Pictured: Founder Nick Magliocchetti said he did not wish to "point fingers and lay blame" about the downfall of the year-old airline.
In it, Waves said that it felt backed into the decision following “pressure” from Royal Court and Petty Debts Court judgements against it.
However, Mr Magliocchetti said that this was not a time to "point fingers and lay blame."
"...This is a time to reflect on the achievements of the team - the supporters, the stakeholders and the sheer amount of work done and the barriers broken to make this company a reality. The credit must go to the guys and girls who worked endlessly to bring this to fruition," he commented.
“It is with a heavy heart that we put Waves Technologies into voluntary liquidation. We hope that if nothing else, the traveling public have seen that there is an alternative. Competition is healthy and that choice and customer service is something that should not be taken for granted but should be an everyday standard for the local travelling community.”
The latest on Waves' financial situation is that it owes just under £20,000 in tax. At the end of July, Guernsey's Royal Court gave the company two weeks to pay the outstanding bills, but Mr Magliochetti at the time said if the company could afford it, it already would have been paid.
He said in court that investor confidence in Waves was poor and he was currently in the process of raising funds. He did not comment as to how this process has gone when contacted by Express last week.
Before this, following Waves' original cancellation announcement, it was revealed Waves never actually received a £510,000 sum it had raised through online crowdfunding platform Seedrs.
The money raised via an online investment platform was eventually returned to the investors after the crowding funding company's due diligence checks were voided by a Judicial Review into Waves' business model.
Despite suspending bookings earlier this year, Waves said that some passengers will still due to fly, and should contact them to organise alternative travel.
Carter Backer Winter, CBW Guernsey and their agents SIA Group have been appointed as joint liquidators and said to be “in talks” with potential buyers for the aviation company behind the airline’s operation.
The airline declined to answer questions or offer any further comments on the situation.
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