By Nigel Tilson
19 September 2005
A new budget airline based in Northern Ireland is moving
closer to take-off, it emerged today.
David Keys, an Ulster entrepreneur whose interests
include the commercialpropertyni.com website, confirmed that
he is the driving force behind the project.
But Mr Keys would not be drawn on the identities of other
businesspeople involved in the ambitious multi-million pound
venture.
The entrepreneur said there would be "no further
disclosures" at present as it is "a critical stage for the
project".
Last month The Belfast Telegraph exclusively revealed a
group of Ulster entrepreneurs was hatching plans for the
Northern Ireland-based airline and had secured financial
backing for the project.
It is understood the low-fare airline will initially
operate cheap flights out of both Belfast and Shannon to
destinations in southern and eastern Europe.
The airline is expected to be officially launched before
the end of this year, with the first flights taking off next
summer.
It is unclear which Belfast airport will be used by the
new airline but sources said it will likely operate flights
between Belfast International and London City Airport.
Belfast International has embraced no-frills services, while
Belfast City largely concentrates on full service flights.
The airline, which is currently unnamed, is believed to
have already signed leasing agreements for Airbus aircraft.
Mr Keys, whose business interests include an extensive
property portfolio, is understood to have secured backing of
several million pounds from a wealthy Republic-based
businessman.
The Ulsterman will own 51% of the airline with the main
backer owning 30%. Other Ulster and Republic-based investors
will control the remaining 19%.
Sources claimed a former director of Ryanair has been
lined up to act as chairman of the new company.
Last month The Belfast Telegraph also revealed that the
entrepreneurs involved in the venture have signed a
confidentiality agreement which does not allow any of them
to go public on the airline's plans until schedules are
firmed up.
It is understood that that agreement is set to be eased
as more details of the project emerge.
