Premier Ewart Brown has welcomed news that bankrupt Zoom Airlines may return to the skies.

Toronto's Globe and Mail newspaper reported earlier this week that new owner James Hultquist-Morrissey had pledged to restore low-cost transatlantic service in light of falling fuel costs.

A cheap route between Bermuda and London Gatwick was among the services offered by budget carrier Zoom before it collapsed in August last year, leaving thousands of passengers stranded or with useless tickets.

Dr. Brown said yesterday of the latest developments: "We see this as good news. However, Zoom will have to work extra hard to recapture the transatlantic market share that has been taken up by British Airways.

"Nonetheless, we are more than willing to participate in any discussion aimed at bringing Zoom back or even introducing new carriers operating between the UK or Canada and Bermuda."

Mr. Hultquist-Morrissey, owner and chairman of Toronto-based private equity firm Globe Span Capital, told the Globe and Mail his company was working with bankruptcy trustee Doyle Salewski Inc. to take control of two or three Boeing planes leased in Canada by Zoom.

"I'm the first guy to admit that there is some ill will there, but the brand name is worth bringing back," Mr. Hultquist-Morrissey was reported as saying.

Zoom shut down on August 28, having racked up almost $100 million in liabilities, while having few assets.