CCR, EUJet's base in Shannon doesn't provide it with any scheduled traffic.
Ireland has 3 main cities, served by DUB, ORK and Belfast(x2)- these have been proven to be dominated by low fares players for the last 5 years, excluding newer entries to low fares arena like Aer Lingus and Aer Arann, well over 70% of the scheduled traffic from the 3 main cities is low fares, travellers are used to the extemely low fares offered by these airlines.
JetMagic was trying to be everything that Ryanair isn't, were Cork people willing to pay for this?- the short answer is no.
For every 300 passengers that fly ORK-STN every day, there was only 15 willing to pay a premium to go to London City with jetMagic.
Cork doesn't have that many City-Slickers looking to go to the square mile in London, in any case Aer lingus to Heathrow is just as cheap and convenient to London City.
I wish jetMagic the best of luck, but where I think their business plan went wrong, is that they were afraid to get a big plane and stack the customers high and cheap, as they were afraid of the bold Mr. O'Leary coming in and spanking their bare bottoms, the opening for these were Alicante/Malaga/Belfast; these are all now gone.
And as for Mr. O'leary- his pig headedness and moratoreum on new routes ex-Ireland until Aer Rianta go on a fact-finding mission to Charleroi (to see how real airports are run) has opened the door to Aer Lingus, HLX, Germanwings & Basiq Air in Dublin; and Aer Lingus in Cork (the same door that was open in Cork for Jetmagic).
It remains to be seen if all the Corkonian business men will dip their hands in their pockets to bail out "Air Examiner"