Ottawa-based Zoom Airlines confirms it has suspended all operations.
Hundreds of Zoom Airlines passengers were stranded in Canada and Britain after the small Canadian airline stopped operations unexpectedly.
Before noon on Thursday, at least four Zoom flights set to arrive at Canadian airports that day were delayed.
Some of the flights were set to arrive at Canadian locations from international destinations such as Glasgow, Rome and London, and others were domestic flights from cities including Ottawa, Montreal and Toronto.
The airline's website labelled the flights as "delayed." One flight scheduled to arrive at the Ottawa International Airport on Wednesday from London, England with a stopover in Halifax was listed as operating on Thursday, due to technical issues and required crew rest.
Zoom says the economic downturn and the unprecedented rise in the price of aviation fuel has made it impossible to continue.
It has begun insolvency proceedings in both Canadian and U.K. courts.
Zoom employed 450 people in Canada and 260 in the United Kingdom before the shutdown.
With files from The Canadian Press
