Zoom Airlines may fly again

[WING IT]

From the Globe and mail.

Tuesday, January 13, 2009

Zoom Airlines could return to the skies this summer under a new owner who pledges to restore low-cost transatlantic service less than a year after the carrier folded.

James Hultquist-Morrissey, owner and chairman of Globe Span Capital, said in an interview Tuesday night that he wants to take advantage of fuel prices that have tumbled about 65 per cent since Zoom went out of business in August.

Globe Span, a Toronto-based private equity firm, is working with bankruptcy trustee Doyle Salewski Inc. to take control of two or three Boeing planes that were leased in Canada by Zoom, he said.

“I'm the first guy to admit that there is some ill will there, but the brand name is worth bringing back,” Mr. Hultquist-Morrissey said.

Flight schedules have yet to be determined, but preliminary plans call for service in Toronto, Montreal, Paris, London and Rome.

Mr. Hultquist-Morrissey said Hugh and John Boyle, the Scottish-born brothers who co-founded Zoom in 2002, misjudged the effect of soaring fuel prices last year.

The discount carrier racked up $94.2-million in liabilities while having few assets.

“We are working toward an amicable agreement with the bankruptcy trustee,” Mr. Hultquist-Morrissey said.

The airline shut down on Aug. 28, stranding an estimated 4,500 travellers and leaving another 40,000 customers with useless tickets.

Zoom had three 269-seat Boeing 767-300s and two 201-seat Boeing 757-200s registered in Canada.

Link to the article

http://www.globeinvestor.com/servlet/st ... 3/GIStory/

[magyar]

did these "40,000 customers with useless tickets" ever get reimbursed? if not than thats millions of dollars that they should owe back to the customers if they start up again, no?

[Troubleshot]

This rumor seems to rear it's ugly head after every shut down...that being said I hope it's true. But it is not really Zoom it's more like Globespan?

[buzzjob]

did these "40,000 customers with useless tickets" ever get reimbursed? if not than thats millions of dollars that they should owe back to the customers if they start up again, no?

Assuming that most, if not all, of those customers paid with a credit card, then they have already been reimbursed. I was fully refunded in 2 weeks after filing the claim to MasterCard.

I personally hope it returns, under new (read competent) management and without Zoom UK. Great place to work! I won't keep my hopes up though.

[Rockie]

I personally hope it returns, under new (read competent) management and without Zoom UK. Great place to work! I won't keep my hopes up though.

Speaking of which, what's wonderboy CEO up to nowadays?

[buzzjob]

I am sure he is still chasing his lunchbox all the way back to Smith Falls

[2R]

It may require a small inexpensive name change to DOOM .
They may get the evangelical flyers going on their holidays to sin cities

[JBelfour]

I for one hope that Zoom Also plans to return to the Skies! Whether it be under a new name or not...I have to admit, I had the opportunity to meet and work with most of their ex-pilots. I can say without a Shadow of a doubt these people were top-notch. I was a ramp supervisor in one of their cities that they served (Canada).

It was always one of the flights I looked forward to working. When I had first heard about a new airline starting up (Original Zoom) I was happy and wished them all the successes in the world. I must admit being a bit of a geek I was concerned with the rapid expansion. (Biting too much off the Apple; I said was going to be their demise! Low and behold it was. It was great when it went from 2 767's to 3 then 4. It seemed to really take a spiral when they opted to add the 57 (yeah yeah Iknow commanality and all) but they never really got rid of the assets/leased birds (gave to sister company). They tried to reduce solve all the problems by adding the 57 and running with better load factors over the 757...

I believe that the LOW-COST model CAN and will WORK. I Suggest that should it be reincarnated they focus on core routes , YYZ,YOW,YUL,CDG,LGW and perhaps FCO....Perhaps if future expansions were to exist the YVR-HNL and Asia (west markets could be added) I'm sure a LOW cost model would work on the WEST coast of Canada over the Pacific to points in the Orient Yeah a HMY (Harmony) replacement. Someone needs to get in their and get their shirt dirty...

Lastly yeah the 757/767 combo is perfect!

I wish all the ex Zoomer's all the best, and May we meet again some day, you truly were ALL AMAZING People...

JB

[IflyaSewerpipe]

I don't think it's that easy to break into the Asian market as a Canadian carrier. Lot's of red tape and bureaucracy to get by. Transat has been trying to get in there for quite a while.

Zoom coming back? Isn't this a little risky with the given economy. Things aren't getting any better out there. Sure, fuel price is down, but you still need the demand to make a buck. It didn't work the first time, why would it work this time?