The first of many of the new low cost operators to collapse over the next 18 months.
There is no pot of gold at the end of the low cost rainbow.... this is the toughhest winter in a decade for airlines, and its about to get worse, especially if we (read: when we) pay a visit to Iraq.
It appears that yields and passengers have dried up of late, with very little bookings expected for January and February. Any non established carrier without a wealthy carrier could probably be in trouble. Germania, Norwegian, MyTravellite,Air Lib are amongst some I am worried about.
You are 100 times more likely to catch a cold on a flight than an average person!