Sarasota Airlines a new start-up backed by Steve Miller of Dragonair and Oasis Hong Kong fame requires $30m to lease four 737s, as efforts continue to start the airline which is hoping to fly to 24 cities, including Baltimore, Detroit, Indianapolis and Boston. We ran a similar story in September 2013, thus investors are not coming forward at speed. To be frank it is a worry to us here also – AirTran pulled out of Sarasota, granted, but with Frontier on the ultra-low cost march and the other US carriers looking very strong indeed this is one tough market to break into and make a profit. With passenger traffic having declined some 38% over the last six years out of Sarasota Miller is up against it to prove that his venture has the business plan to pull-in the passengers.
Another US start-up still looking for cash
