Waves parent company goes into voluntary liquidation

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THE parent company of Waves has gone into voluntary liquidation.

Waves parent company has gone into voluntary liquidation. (Picture by Jon Le Ray 22534991)

The airline's owners say that pressure from Waves’ recent Royal Court and Petty Debt judgments has forced Waves Technologies Ltd (WTL) into liquidation.

However, WO1 Ltd – the Waves aviation company and the sub-company which delivers all Waves flights – remains trading.

Nick Magliocchetti, founder of Waves, said: 'It is with a heavy heart that we put Waves Technologies into voluntary liquidation. We hope that if nothing else, the travelling public have seen that there is an alternative. Competition is healthy and that choice and customer service is something that should not be taken for granted but should be an everyday standard for the local travelling community.

'At this sad time, it would be easy to point fingers and lay blame. However, this is a time to reflect on the achievements of the team – the supporters, the stakeholders and the sheer amount of work done and the barriers broken to make this company a reality. The credit must go to the guys and girls who worked endlessly to bring this to fruition.

'Waves was built with the purpose to facilitate a very clear and proven demand for flexible and customer-focussed inter-island travel. The dedicated and driven team from both aviation and non-aviation backgrounds worked with passion to make the dream a reality.'

Joint liquidators Carter Backer Winter, CBW (Guernsey) Ltd, and their agents, SIA Group (UK) Ltd, are in talks with potential buyers for WO1 with the hope of confirming a trade sale over the next few weeks.

Waves says that the liquidator hopes to maintain as much value in the business as possible, and this can be achieved through a trade sale to a serious and good buyer.

Although Waves have not taken any bookings since earlier this year, there are a few remaining passengers due to travel.

Anyone requiring information can email to organise alternative travel.

GP Newsdesk

By GP Newsdesk
News Reporter


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