Released on: April 28, 2008, 12:27 am

Press Release Author: Paul B.J Mclean

Industry: Aerospace

Press Release Summary: International Passenger Protection (IPP), the largest
supplier of default and insolvency insurance to the travel industry had warned of
further airline collapses the other week where at the time 9 airlines had already
collapsed in the first 4 months of 2008 compared to 5 in the whole of 2007.

Press Release Body: Kent, UK, April 28, 2008 -- EOS Airlines is the latest air
carrier in a long line of airlines that has had airlines problems in just the first
few months of 2008 after it filed for Chapter 11 on Saturday. EOS's website states
Eos has filed for bankruptcy in the U.S. Bankruptcy Court in the Southern District
of New York. On April 26, 2008, we plan to operate Flight 6 (8:30pm) from JFK to
STN. On April 27, 2008, we plan to operate Flights 3 (1:00pm) and 7 (6:30pm) from
STN to JFK. Flight 5 from STN to JFK and all flights from JFK to STN on April 27,
2008 are cancelled. We will cease operations entirely after April 27, 2008.

International Passenger Protection (IPP), the largest supplier of default and
insolvency insurance to the travel industry had warned of further airline collapses
the other week where at the time 9 airlines had already collapsed in the first 4
months of 2008 compared to 5 in the whole of 2007. This now makes 10 airlines that
have run into financial difficulties in just four months.

IPP's director Paul Mclean said simply the long standing effect of the credit crunch
and the price of oil still continuing to rise means many airlines simply cannot
maintain flying operations unless they make drastic price increases. Although we
predicted several other airlines to come into the same financial difficulties there
will sadly be others during this difficult credit crunch and high oil price period.

Paul Mclean went onto say that they have already been inundated with calls from
travel agents and online travel companies who have suffered losses from not only
carriers like MaxJet, ATA and Aloha Airlines and Oasis Airlines but we expect heavy
claims for EOS Airlines passengers should the airline be unsuccessful in chapter 11.

Luckily ABTA travel agents have been able to offer their customers the benefit of
the ABTA Protection Plan to cover the financial demise of any end supplier of the
publics holiday but also Airline bankruptcy for airlines like EOS prior to them
filing for Chapter 11. There are also an increasing number of Travel Insurance
policies that are also now covering airline bankruptcy. IPP urge agents and
consumers to ensure they either have their airlines covered through a policy with
the travel agent, ensure their travel insurance policy has cover for Scheduled
Airline Failure or book with an ABTA agent whom can offer the ABTA Protection Plan.

We are certainly seeing a dramatic increase in requests from travel industry to
protect not only their customers but themselves with insurance covering airline
bankruptcy simply because they have sadly learned the hard way by losing money on
these latest airline casualties. The oil and credit crunch factors highlight the
increasing reasons that cause bankruptcy in airline market and of course we should
not ignore the other sectors of the travel industry that are also under great
pressure
International Passenger Protection are authorised and regulated to sell insurance by
the Financial Services Authority.
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Notes to the editor:

Paul B.J Mclean,
Director
International Passenger Protection Ltd
Kent, BR4 0PR
020 8776 3750
info@ipplondon.co.uk
http://www.ipplondon.co.uk
http://www.eosairlines.com

Web Site: http://www.eosairlines.com

Contact Details: Paul B.J Mclean,
Director
International Passenger Protection Ltd
Kent, BR4 0PR
020 8776 3750
info@ipplondon.co.uk
http://www.ipplondon.co.uk
http://www.eosairlines.com