Jetmagic pleased with expansion plan progress

CORK airline Jetmagic has dismissed question marks over its performance and said it was happy with the progress of its latest attempt to secure extra funding.

The company said yesterday that it was in talks with a number of new investors to help finance its expansion plans, which saw the airline add a fourth daily flight from Cork to London City airport yesterday.

Jetmagic said advance bookings were up by 50% in early January when compared with December’s figures and added that it planned to announce a number of new destinations later in the year. The company began operations 9 months ago and has already sourced almost 6 million from private investors. The airline declined to say how much money it hoped to raise in the current funding round but said all its potential investors were Ireland-based.