RedJet suffocated by Red Ink... Fades to Black

[Don1]

REDjet Declares Insolvency
Published: Saturday June 9, 2012

A day after dismissing its 94 workers, the Barbadian discount carrier REDjet yesterday announced it is insolvent.

Redjet says as a result it will suspend all operations in Barbados and that it regrets the decision and its impact on suppliers, staff and passengers.

The company says it has filed a notice of intention to make a proposal to its creditors with the Barbados Supervisor of Insolvency under the Bankruptcy and Insolvency Act.

It notes that immediately upon filing, all proceedings against the company are stayed and no creditor can move against the company in relation to any debt owing as of June 5, 2012.

[Islandman]

Wasn't around long enough to be categorized as fading. Jets into the black hole?

Commenced operations: May 10, 2011
Ceased operations: June 8, 2012

Hope they had a nice one-year anniversary.

[Don1]

Man lose dem shut puppa

[Peter R]

I don't understand why they didn't consolidate and re structure their fares long before it came to this... they were selling at a deep discount of CAL fares and could easily have maintained full subscription on certain flights with a 100% increase ... I was thinking (back in Feb) of booking with them to go JA in May and the fare was $150 US return compared to almost $500 US on CAL... so for us back in the Caribbean the lack of viable competition(within the Caribbean) leaves us with high fares... cheaper to go Florida than JA

[Assasin]

they think they were trying the Ryan Air method. But the didn't have enough capital to start with.