Avatar Airlines has announced it is looking to purchase purchase large aircraft despite COVID-19´s devastating effect on travel industry, the company said.
Since Avatar is not yet flying it has not been directly affected by the virus.
Avatar plans to revolutionize the low-cost airline business by transforming the traditional long-haul 747 aircraft into a cost-efficient supersized airframe of the future. Unlike other airlines laden with debt, its strategy is to be well-capitalized, profitable and debt-free. It is now looking for 14 747-400s to purchase and begin service.
Avatar´s financial plan includes a USD 300,000,000 private equity offering followed by a USD 500,000,000 secondary offering which culminates into a well thought out and properly timed IPO projected to raise over USD 10 billion dollars to purchase new Boeing aircraft.
Avatar has begun its search for a location to build its corporate headquarters and training center along with an adjoining 300 room hotel. Although primarily looking in Florida, it is open to all other areas especially those offering economic incentives in return for the thousands of employees Avatar expects to hire.