Continuing from yesterdays breaking story that Spanair has filed for bankruptcy, more details are emerging and the impact that is rippling through the Spanish Aviation industry.
To recap: Spanair were declared to be “in an emergency financial situation” on Wednesday 25th January. the airline was in talks with Qatar Airways in purchasing a stake in the airline. On Friday the Qatar Airways walked away from the negotiations.
With the state Spanair case in – seemingly out of cash, the two shareholders – The Catalan Government and SAS pulled the plug.
Spanair state
“Faced with the lack of financial visibility for the coming months, the company has decided to cease its operations as a measure of caution and safety”
On Friday 27th 22:00CET, All Spanair flights were suspeneded.
Estimates of over 22,000 passengers are stranded this weekend with the best part of 380flightsto fly during the weekend, with Iberia, Vueling, Easyjet and Ryanair now trying to get passenger to their destinations.
Madrid’s Barajas airport and Barcelona’s El Prat have had special lunges set up to try and handle the stranded Spanair passenger to attempt to get them rebooked.
Over the 3 days following the collapse, the Catalan Government, Spanair and various carriers have agreed emergency fares:
- Domestic flights and Balearic Islands: 60 euros.
- Flights to the Canary Islands: 90 euros
- International flights: $ 100
If you were due to travel on Spanair after Monday should consult their travel insurance or ticket issuers to find out what to do next.
Meanwhile SAS is facing a 1.7 BILLON SEK (US$250 million) write down with the collaspe of the airline. With the Catalan government constrained how much more it could put in due to the fincial bailout rules, it sems there are no winners at all this time.
Spanair itself has failed to make a profit since 2007.
Thus ends another airline with a slightly non sensible model, and a loss of a link for those who rely on the airline who now have to rely on other carriers to step into the breech.
