No-one's yet mentioned the crash landing of the PA31 in Jersey with the Airways International on-board bar takings being exported to France....
The leasing saga with the 737-300 to Sun Country was undoubtedly not a help but I'm not convinced AIC's entire downfall could be written up to that.
Between that and the Chairman of Paramount running off with the cash mid-way through the airline's summer season (after Amber Air had been merged into it), there were some interesting goings-on. And then Inter European was founded!