Flights platform secures six-figure funding following 800% enquiry increase
A tech firm that specialises in selling flights directly to consumers has secured a six-figure funding package to continue trading throughout the COVID-19 disruption.
Alternative Airlines has secured £250k funding from Barclays through the government-backed Coronavirus Business Interruption Loan Scheme (CBILS).
The platform aims to give travellers the choice to pick flights and prices from over 650 airlines, accepting international currencies and a number of different payment solutions.
The funding has enabled the Surrey-based firm to continue paying salaries, helping to meet increased demand for its customer services.
Sam Argyle, managing director, Alternative Airlines said: “COVID-19 has had a significant impact on our revenue, which decreased 92 per cent in April compared to February. At the same time, we saw an 800 per cent increase in enquiries for our customer service team.
“Through our Barclays relationship director, Toni Burton, we were able to apply for a loan under the CBIL scheme. The process was very slick: all done over the phone within an hour, and the funds were released shortly after that.
“The loan will help us continue to pay staff wages, and it’s been vital in helping us maintain security and certainty through this period.
Toni Burton, relationship director for South East London and Kent at Barclays Business Banking, added: “Alternative Airlines is an innovative travel business that was doing really well before the pandemic hit. Between 2016 to 2019, they saw rapid growth with revenue doubling year on year.
“The business wanted to ensure its customers were still receiving the highest possible quality of service, and with access to a CBIL, it has been able to do this.
“The loan will also go towards paying its employees’ wages and I’m delighted that we’ve been able to support their business during this time.”
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