September 9, 2008
Zoom Appoints Administrators
BUDGET transatlantic airline Zoom has appointed administrators.
The Canadian airline, which collapsed as 67 travellers on one of its jets waited to take off at Cardiff International Airport on August 28, has appointed business advisers PKF to assess its debts and assets in the UKA spokesman for PKF said the firm's chances of surviving administration were "slim" and warned there were unlikely to be any funds to pay creditors, including Cardiff International Airport.
Senior partner Anne Buchanan said: "It is extremely disappointing and frustrating for customers of Zoom that the airline was unable to continue trading.
"It is clear even at this stage that at the heart of the airline's difficulties was the very substantial increases it facedin the price of aviation fuel coupled with the deteriorating economic situation.
Although a re-financing package appeared imminent last week it could not be completed before the airline was over wheel med by the demands of suppliers and creditors."
She advised the estimated 40,000 passengers who had booked flights over the coming months to contact their credit company, travel agent or bank. Zoom has appointed a separate firm of administrators in Canada.
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