Bust airline faces massive debt
Published 31/08/2008 | 13:56
Officials at the collapsed transatlantic budget airline, Zoom, have said its debts are likely to reach almost €31.5 million.
However, airline bosses rejected the rumours that Zoom owes up to three times this figure.
The UK and Canada-based firm grounded all flights last week as it prepared to go into liquidation, leaving thousands of passengers stranded.
It blamed its financial difficulties on a massive jump in fuel bills as a result of the high cost of oil.