Jetmagic CEO hopeful airline can fly again

The CEO of collapsed Cork based airline Jetmagic has indicated that new investor interest could revive the airline.

The airline ceased operations less than three weeks ago owing almost €4m to creditors.

The Irish Times reports today that Barry Perrott said that he was hopeful, though not confident, of the company's chances following the emergence of new interest in the airline.

He said: "Since we've suspended trading - and technically we have not entered liquidation at the moment - we have suspended operations, there have been several new interests expressed but each of them will take time to work with."

Jetmagic suspended operations on January 28 after losing more than €11m in the nine months since it was launched. One hundred people lost their jobs.

Jetmagic attributed the failure of the airline to their last investor dropping out and the failure to win traffic from the bigger carriers, in particular business travellers.