Jetmagic to fold at Cork Airport

Airline Jetmagic is to cease operations at Cork Airport immediately, with the loss of 100 jobs.

All flights have been suspended after the airline failed to secure additional funding to allow it continue to operate.

The move has left around 400 passengers stranded abroad. It is understood they are being forced to make their own travel arrangements to come home.

Competition from other airlines on its most popular routes compounded Jetmagic's difficulties.

The airline has only been in business out of Cork since last spring.

In a statement, Jetmagic said it was a matter of deep regret for shareholders, directors and employees that the venture had not proved viable.

Expected passenger demand did not materialise, especially in terms of business travel. In the case of a number of routes - including Brussels, Rome and Milan - the company had already announced that they had been, or would be, discontinued.

The company said there had been high passenger loads on a number of routes – particularly those to ‘holiday’ destinations, including Alicante, Barcelona, Nice, Nantes and Milan.

"However, there were very disappointing bookings on business routes - Brussels, London City, Edinburgh, Liverpool and Paris - with only Belfast City achieving satisfactory levels," the company said.

Intending passengers have been advised to contact the airline at a special freephone number - 1800 301060.