Aer Rianta has impounded a jet belonging to the collapsed regional airline Jetmagic, which folded today after losing more than €11m in just nine months.

About 400 airline passengers have been left stranded. Three hundred passengers who flew with the airline to Britain, France, Italy and Spain and another 100 who flew into Cork will all have to make their own way home.

Jetmagic suspended operations last night after losing more than €11m in the nine months since it was launched. One hundred people will lose their jobs.

Speaking on RTÉ Radio, the airline's chief executive, Barry Perrott, said that yesterday Jetmagic's last investor dropped out and the board had to take the decision to stop trading.

Mr Perrott said the airline had not got the amount of business travelers it had expected.

Mr Perrott said it was a competitive market, and Jetmagic could not win traffic away from the bigger carriers.

Jetmagic has set up helpline numbers for people who had booked with the airline: 1800 301 060, or outside the Republic 00 353 21 4518915. Members of the public trying to contact the helpline may experience some delays in getting through due to the volume of calls and are requested to continue trying.