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Zoom Airlines Inc., a Canadian discount airline, and Zoom Airlines Ltd, its United Kingdom operation, announced yesterday the cancellation of all flights as they begin bankruptcy proceedings. Zoom, which also flies in the United States and France, posted an apology on its Web site. "We are desperately sorry for the inconvenience and disappointment that this will cause passengers and those who have booked flights," the statement says. Visa Inc. and MasterCard Canada issued statements reminding cardholders that if they are unable to use their Zoom tickets on other airlines, they should contact the financial institutions that issued their cards. "Cardholders may be entitled to a refund if the services they purchased with their Visa card were not rendered and should contact the financial institution that issued their card as soon as possible to discuss their specific situation," the Visa statement says. MasterCard Canada's statement to its cardholders says, "It is the general policy that if you do not receive the goods and services you purchased with your MasterCard credit card then you're entitled to a refund of those funds." MasterCard called the bankruptcy "a prime example of one of the important purchase protections offered by MasterCard card issuers."
