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Ryanair And EasyJet Already Greedily Eyeing SkyEurope's Old Routes

Even in the short run, SkyEurope's sudden bankruptcy and full-scale flight cancelation will impact more than the passengers whom the airline left stranded all over Europe. The now-defunct airline was routinely ranked as Eastern Europe's #1 low-cost carrier, somewhat because of its services but also because it crowded a lot of its competition out of the region. Now Ryanair and EasyJet, Europe's top two LCC's, are looking to swoop into the airports and routes that SkyEurope used to dominate.

Ryanair and EasyJet have long had sparse-to-no presence in Central Europe. Aside from the occasional WizzAir route, SkyEurope had a firm grip on Slovakia, Vienna, and Prague, taking up gates and undercutting other airlines' prices. Not any more:

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Tags: Zoom Airlines / Airlines / LCCs / Low Cost Carriers / Airline Bankruptcies / → All Tags

Zoom Airlines Declares "Insolvency"

Zoom Airlines stopped flying at 2 pm this afternoon, declaring that the company's run out of money to pay off its debts. Though insolvency isn't exactly the same as bankruptcy, it's close enough: All future flights have been canceled and its planes have been parked.

A statement from the airline's founders wasn't very surprising:

We have done everything we can to support the airline and left no stone unturned to secure a re-financing package that would have kept our aircraft flying. Even as late as yesterday we had secured a new investment package but the actions of creditors meant we could not continue flying.

The collapse of Zoom is a result of matter beyond our control. Only last year Zoom Airlines made profit, but that turned into a loss in the last year due to the unprecedented increase in the price of aviation fuel and the economic climate.

Zoom says it has contacted other airlines to help stranded passengers get where they're headed. Refunds? Call your credit card company pronto.

Related Stories:
· Zoom Airlines [Official Site]
· It's Doom for Zoom [Airline Biz Blog]
· Zoom Airlines coverage [Jaunted]

[Photo: Wikipedia]