New Pacific Airways (formerly known as Northern Pacific Airways), has given up on accepting funding through equity crowdfunding from individual investors.
Since June 2022, the airline had been carrying out an equity crowdfunding campaign via Wefunder, inviting general investors to contribute funds. The minimum investment amount was set at $100, with exceptional conditions such as receiving a flight voucher of the same value for a $1,000 investment, and the total pledges had reached $4.25 million.
Although the investors were required to make their payments after entering the campaign, no further instructions for payment had been sent out, and some applicants had been notified about the cancellations. According to New Pacific Airways, there were issues with the audit report, which made implementation impossible.
Initially planning to connect Asia and the entire USA from its base in Anchorage, New Pacific Airways is now operating only domestic flights within the United States due to the Russia-Ukraine war and the resulting restrictions on traversing Russian airspace. The airline changed its name from Northern Pacific Airways in September 2023.
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