Zoom’s debts £20 - £25m
01.09.08
The collapsed transatlantic budget airline Zoom said its debts are likely to total £20 - £25 million, rejecting newspaper reports that could owe three times this. Reports claimed that papers lodged with Office of Superintendent of Bankruptcy in Canada indicated Zoom owed £62.7m. But a spokesman for the firm said: ‘The position of the management of Zoom is that that is not an accurate reflection of the debts of the company. We don't know how this figure has been arrived at.’
Much of the Canadian figure was put down to about 78 million dollars in advanced ticket sales, but the spokesman said it was unlikely the financial problems would have come to a head if this had been the case. The spokesman said: ‘It's likely that the debts will be substantial. Our estimate is that it's likely to be in the £20 - £25 million category - but it's not possible at this time to give a definitive figure.’
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