Orca Airways is a new regional airline that will provide high-quality, dependable and safe air travel to customers in the Pacific Northwest, with a focus on Washington State. The airline will be based in Bellingham and will operate initially with a fleet of 2 airplanes to take advantage of a specific gap in connections between Bellingham and Everett on the west side of the state with Spokane WA, Pasco WA and Boise ID. The gap in the availability of affordable service in and out of the Bellingham and Everett hub coupled with the demand for passenger travel on selected routes from these airports indicates that a new entrant airline could be expected to capture 100% of the market on these routes at that hub.

The management of Orca Airways is experienced in the airline industry, including management, finance, operations, and maintenance.

Our research and projections indicate that air travel to and from Bellingham and Everett is sufficient to provide a new carrier with excellent revenues in its first full year of operations, utilizing two aircraft initially and the selected routes. These sales figures are based upon load factors of 65% in year one. Second year revenues are expected to more than double with additional aircraft and expanded routes. Load factors for year two are expected to increase to 75%.

These sales levels will produce respectable net profit in the first operational year and exponential growth in flight year two. Profits in year one will be a modest 10% of sales and will improve steadily with the economies gained in year two. The overall operational long-term profit target will be 20% of sales as net profit in years four and five. The company’s long-term plan is part of the due diligence package. The first operational year is fiscal year two in this plan.

The first six to eight months of formative operations will burn cash until revenue can commence. This is due to the organizational and regulatory obligations of the new air carrier. Investment activity is needed to handle the expenses of this phase of the business.

Orca Airways will be certified by the FAA as a Part 121 Commuter Carrier.