[fredr123]

http://www.canada.com/calgaryherald/...b-651a99921070

The Zoom executives blamed the company's woes on the "unprecedented rise in the price of aviation fuel" and the "general economic downtown that has made it impossible for operations to continue."

These two factors resulted in a $50-million increase in operating costs, the statement said.

The airline has also sought protection from its creditors and has begun insolvency proceedings.
Zoom Airlines has both a Canadian and British arm. Both companies are affected.
The airline employs 450 staff in Canada and 260 in the U.K.



http://calsun.canoe.ca/News/2008/08/28/6599451.html

Even before the company issued its official announcement, passengers knew there were problems because their flights were cancelled. But it took several hours before Zoom confirmed it had suspended operations due to money problems.

Zoom’s founders apologized for the inconvenience caused by the airline’s demise after it failed to pay bills to government, airport, supplier and aircraft creditors.

In Halifax, 213 people were stranded after baggage handlers apparently refused to load Zoom’s aircraft because their company hasn’t been paid.

A flight was grounded by court order in Calgary and another one was being delayed in Glasgow, Scotland.


Zoom Air official announcement: http://www.flyzoom.com/