Airlines offer stranded travelers rescue fares after sudden shutdown

Core Points - Eastern Airways, a regional airline in the UK, has filed for bankruptcy and canceled all flights, leaving passengers stranded and hundreds of employees without jobs [1][2] - Ryanair and Loganair have introduced "rescue fares" to assist stranded passengers, with Ryanair offering flights for £29.99 ($39.69 USD) and Loganair providing fares between £80 and £87 (up to $115 USD) [3][6] Company Impact - Eastern Airways has been a key service provider for the oil and gas industry and local sports teams, indicating its importance in regional connectivity [3] - The bankruptcy of Eastern Airways follows a similar situation with Icelandic airline Play, highlighting a trend of airline failures impacting travelers across Europe [5] Industry Response - The introduction of rescue fares by competitors like Ryanair and Loganair demonstrates a reactive strategy within the airline industry to capture displaced customers and mitigate the impact of competitor failures [4][6] - The pricing for last-minute bookings can significantly increase, suggesting a potential for revenue generation for airlines that can accommodate stranded passengers [7]