Spanair Files for Bankruptcy – 4,000 Employees at Risk

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Yesterday’s announcement came as sources claim the Barcelona-based aviation company were facing debts of up to €300 million, TNT Magazine reported. Lawyers for the company are reportedly keen to avoid being forced into involuntary bankruptcy by creditors. Last weekend saw travel chaos as close to 20,000 passengers were stranded with just a few hours notice. Spanair employs around 4,000 people and is the 4th largest airline in Spain. Possibly looking to capitalise on the airline’s demise, Ryanair has requested EU authorities to veto any more requests for public bailout money having already been given €150 million from regional Spanish government funds. Read more.
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