Canada’s Jetsgo Shuts, Strands Thousands

Discount airline Jetsgo grounded its fleet and obtained court protection from creditors on Friday, stranding 17,000 passengers during the March break school holidays, one of the busiest travel periods of the year in Canada.
In a court affidavit, Montreal-based Jetsgo, which has 1,200 employees and is the country’s third-largest airline, said it lost about C$55 million ($49 million) over the past 8 months, on top of a C$9.6 million loss in the year to June 27, 2004.
ABC News: Canada’s Jetsgo Shuts, Strands Thousands