GROUNDED: Waves cancel everything to "take stock of its position"

Tuesday 26 June 2018

Waves have cancelled all of its flights and bookings until 1 September to "take stock of its position in the current marketplace".

All passengers with bookings during this period will be offered a full refund or the chance to rebook later in the year.

Waves founder Nick Magliocchetti said the business would now refocus, and take time to strengthen its position in the market, but he did say the current plan was to recommence operations in September.

"It has been a tumultuous 12 months,” he said.

“We have overcome every obstacle placed in our way, but we felt that the time was right to take a pause. Our priority now, as always, is our customers and we wish to apologise for the inconvenience caused by this news and reassure them that we will be back stronger than ever.”

Waves' Founder, Nick Magliocchetti has said Waves' staff will continue "reporting to work as usual", with senior management set to be "as busy as ever" and the pilots have training sessions planned for the interim period.

Last month, Waves announced its only aircraft was grounded until the end of June because of maintenance problems with its aircraft - they cancelled all of their bookings then.

Because of this, the company have had no income through flights since May.

This time around, Mr Magliocchetti said customers who had a flight in the next two days had been informed two days ago that their travel would be cancelled - anyone with flights beyond that were only told when the news broke.

During 2017 Waves crowd funded £500,000 and started operations under the 2001 air taxi exemption regulations, but several weeks later were served notice as the interested party in a judicial review between another local operator, Blue Islands, and the States of Guernsey Transport Licensing Authority. 

"When we launched in January last year we had overwhelming public and government support with all recognising how frustrating the lack of choice and flexibility is on the Channel Island routes. We challenged the status quo and introduced an entrepreneurial solution.”

“We had expected to shake up the sector and within three months we took a small but significant stake in the inter-island market.”

Following that, it was deemed Waves could not sell individual seat sales, but only charter the entire aircraft.

"The application process was lengthy and the delays damaged momentum, at a time when Waves was gaining significant ground, which ultimately had a detrimental effect on the business, our staff and our customers.

"Waves has chosen to commit to providing the Channel Islands with an alternative air service so, without us, the real loser would be the travelling public and businesses who have supported us and are stuck with no real competition, inflexible timetables and poor customer service.”

“We have said from the outset, and strongly maintain, that our distinctive and different model is perfectly suited to the Channel Islands and can, and should, be a complementary service to the existing operators.”

The company currently has a total of 27 employees in the UK, Jersey and Guernsey.

Mr Magliocchetti said Waves management was taking the next two months to restructure looking at expansion in both its fleet and its routes. 

“I am optimistic about the future and we have a lot to look forward to. Our recent appointment of Gus Paterson as our new CEO is a ringing endorsement of Waves by a man whose aviation expertise is beyond reproach." Mr Magliocchetti said the relaunch date of September was decided upon to coincide with this.