Airline in last ditch talks

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Taken from the Mail on Sunday Financial pages. Loss-making PlaneStation, owner of budget airline EU Jet, based at Kent International Airport is in talks with a tour operator to fly to the Canary Islands,Egypt and Cyprus. It is part of its survival plan to combat debts of £25million. The company could post an annual loss of £35million on July 27 because of low passenger numbers, with just 600,000 expected by the end of the year. With only 5 jets, the firm needs 800,000 passengers to break even. The shortfall has forced chief executive Martin May into early talks to sell a 75% stake in its 86-acre business park
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