Ex-Lehman Trader Seeks Fix to Capitalism in Crowdfunded Airline
- Briton to raise 8.5 million pounds; pledges profit to charity
- ‘People Over Profit’ airline to link London with Indian cities
An artist's impression showing the livery of POP Airline.
Source: POP AirlineAs a bond trader at Lehman Brothers Holdings Inc. and JPMorgan Chase & Co., Navdip Singh Judge worked for spreads and bonuses at temples of modern-day capitalism. Now, he says the global capitalist system is broken and he’s looking to mend it.
The Briton of Indian origin isn’t your typical aviation entrepreneur. With business executives the world over wondering about the economic impact of Brexit, Judge aims to start a crowdfunded budget carrier by raising 8.5 million pounds ($11 million) that will fly a single plane between London and some Indian cities. He has vowed to plow most of the profits into charity. The plan is to raise 3.5 million pounds from the public online, and 5 million pounds more from wealthy individuals using a U.K. tax-saving plan.