Has Odyssey Airlines stalled before take off?

For a few years now Odyssey Airlines have been waiting to take off. Planes would help. Now eventually accounts have been filed for YE March18 showing another large loss of £1.14m. Cash in bank stands at £7 - just enough for bottle of water on their inaugural fight - ignoring inflation to 2035.

We have written before about this company - as we joined their investors in the waiting lounge. But this year things have gone from poor to really bad. So fasten your seat belts and adopt the crash position. 

The company is due to repay £2.51m of loans in 7 days time. That £7 clearly wont cut it. The Director says he is confident the loans can be extended and that the required financing - company deficit at £3.79m - will be obtained this year. That is pretty much what they said last year but the investment has been DELAYED. 

We are not sure it's a plane they require - maybe a rocket to take them all to Mars and beyond. Something tells me Chris Failing must be involved.   

You will not be surprised to hear that it was Crowdcube who facilitated this one in 2014 - £1.1m invested. Bet they never thought that 5 years later, they would still be sitting on the runway - without a plane or a seat.  Mind you; they are doing their bit to fight Climate Change.