Entrepreneur fights against headwinds

The first warning is about the precarious nature of the aircraft industry. It is ruinously expensive, requiring scores of quality, well-trained staff and high tech kit that must not fail.

And that’s before paying the airport’s exorbitant landing taxes.

It costs millions just to stay in this high-stakes poker game, as Aurigny and Blue Islands have shown year after year.

Politicians should therefore be careful when they interfere. The wrong decision can quickly cause crippling losses and cost people their jobs.

The proposal to open up the skies to competition (except for two lifeline routes) is a huge risk. The waves caused by tossing such a big rock into a small pool might easily swamp an existing carrier and turn stretched finances into catastrophic losses.

So be it, say the free marketers. That is how it should work. Let the airlines fight it out and the consumers will benefit when the price war erupts.

Except, as can be seen by Waves’ decision to take a break, passengers also suffer when airlines cancel flights. 140 booked flights have been cancelled and scores of islanders have been inconvenienced.

They will get their money back, but what then? At short notice, many will be scrabbling for a few expensive tickets which the other airlines have yet to sell. Some may have to change their holiday dates to find a suitable flight.

And that is for a relative minnow in the airline market. Imagine if Blue Islands, Flybe or some open skies newcomer were to take the same decision one winter.

The second warning is about how difficult it is to set up a business and make it work in Guernsey.

The owner of Waves, a successful serial entrepreneur outside of this island, could not hide his frustration about how difficult it had proved.

For an island which desperately needs to diversify that is not a good message.

Deep-pocketed business leaders such as Nick Magliocchetti (and Derek Coates), who are willing to invest, lose money and take risks, should be encouraged not frustrated.