Solving Challenges

The Series A was not the entire solution; there was still an aircraft to find majority financing for. But where to go for cash for an international deal where no bank would seriously look at a brand new company and a brand new kind of aircraft? Most aircraft are leased, with major companies that provide such leasing. But with no residual value yet established for a Zeppelin (only three operating worldwide), and no easily demonstrated market (unlike a Learjet, or 747), Zeppelins did not fit the traditional model lenders were familiar with. Eventually, Airship Ventures worked with ZLT to create a customized lease finance deal.

In the midst of funding, in February, 2008, Airship Ventures moved into its first official offices, Building 156 at Moffett Field. By April, the company was filling the space with an international team of seasoned professionals from the airship, aviation, travel and hospitality fields.

As things were moving forward "stateside," construction of the Zeppelin was progressing in Germany. As the airship was being built, ZLT was building a partnership with Airship Ventures on many levels beyond simply manufacturing and financing. Training operations have been shared, as ZLT teams train Airship Ventures teams, in both Europe and the U.S. Staff from both teams have worked together to get the Zeppelin certified to fly in the USA. Previous FAA rules relating to airships were written for blimps, not for Zeppelins, which are classified as "passenger commercial airships." Airship Ventures and the FAA worked together to sort through the rules and have approved the Zeppelin for flight in the U.S.

Next: Upship!