Swiss Skies has rebranded itself as Moov Airways and is determined to create a new low-cost airline for long-distance flights departing out of Basel and Lugano airports.
Moov Airways plans to operate direct non-stop flights to the US East Coast (including New York), Canada, South America, the Caribbean, the Middle East and possibly India.
The company has selected the Airbus 321 LXR (ultra-long-range model), which should start rolling off the production lines in 2023.
The elephant in the room is finding the CHF100 million to get Moov off the ground. So Moov has turned to a new form of capital-raising that leverages distributed ledger technology (DLT), which is similar to blockchain. This fledgling technique of creating and trading digital versions of company shares promises to reduce costs and increase access to a wider range of investors.