Bank of Scotland acquires shareholding in Zoom.
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UK,
Zoom Airlines
Zoom Airlines announced (06-Aug-06) the Bank of Scotlands private investment arm acquired a 7.5% shareholding in the carrier as part of a GBP5.7 million funding, equity and rolling fuel hedging package.
Zoom announced plans to use the funding and backing package to start up a London-based UK subsidiary, Zoom UK, to commence operations in May-07.
Plans for the new unit include a dedicated low-cost UK-US service, as well as services to Mexico and the Caribbean. The new carrier will initially operate two leased B767s, in a two-class economy and premium configuration. Details of fares have not been disclosed, however Zoom currently offers Canada-UK services beginning at GBP99/CAD199, meal inclusive.
The carriers co-founder John Boyle stated: It is very unusual for a big institution like Bank of Scotland to take an equity stake in an airline, but we believe in what we're doing and so do they. I would like to think we could become the transatlantic equivalent to Ryanair or easyJet. Now that we've secured this funding, we'll be evaluating new routes over the next few months, Source: Scotland on Sunday, 06-Aug-06.
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Bank of Scotland acquires shareholding in Zoom. 
