Full article on economist.com
Primera Air changed its low-cost business model this year by adding scheduled long-haul flights to its predominantly short-haul charter network. Hrafn Thorgeirsson, its chief executive, had said that the change was necessary to avoid the structural decline of the European market for charter flights. He could have saved himself the bother. The airline entered administration on October 2nd after failing to secure further funding for its loss-making long-haul operation, which was beset by delays and cancellations during its first and only summer season. Its collapse leaves thousands of customers stranded and tens of thousands more out of pocket...
