The week of Oct. 27 started off with yet another European airline getting dangerously close to bankruptcy.
A regional carrier serving the East Midlands region of England since 1997, Eastern Airways abruptly canceled all flights and filed documents, asking a British court to give it time to look for funding and restructuring options instead of going straight to liquidation.
But with several local outlets reporting that planes have already been returned to lenders, hundreds of Eastern pilots and flight attendants will now lose their jobs. Even worse, passengers have been left stranded in various airports in Scotland and northeastern England.
“All Eastern Airways operated flights are canceled,” British Civil Aviation Authority said in an Oct. 27 note to passengers. “Therefore, please do not go to the airport as flights will not be operating.”
Eastern Airways provided service to crucial oil and gas industry hubs in the east of the country, as well as charter flights for several local sports teams based outside larger airports.
Amid the flight cancellations, Dublin-based Ryanair offered £29.99 ($39.69 USD) rescue fares on its flight between London’s Stansted Airport (STN) and Newquay Airport (NQY) in Cornwall.
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The term “rescue fare” is used when competitors slash the cost of a flight in response to a rush of travelers who have no other choice after a competitor shuts down or is otherwise unable to provide service.
A similar situation played out when Icelandic airline Play filed for bankruptcy and left thousands of travelers stranded in airports across Europe at the start of October. German carrier Condor Airlines offered affected passengers discounted flights to the U.S. through Frankfurt.
While Ryanair only flies to one of the destinations affected by the Eastern Airways shutdown, the airline said the route to Newquay that it runs six times a week is “available for Eastern Airways passengers affected by this sudden London Gatwick to Newquay route cut […] to book now at ryanair.com.”
A fellow regional airline based out of Glasgow Airport (GLA), Loganair also launched rescue fares on flights between Aberdeen International Airport (ABZ) and Kirkwall and Sumburgh off the Scottish mainland for £80 or £87 (up to $115 USD), depending on the direction.
The same route could cost as much as triple the price or more when booked last-minute in a rush of other travelers trying to do the same.
