Type
Bankruptcy
Country
Spain
Region
Este; Illes Balears;
Location of affected unit(s)
Palma de Mallorca
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

1,200 jobs
Number of planned job losses
Job loss
Announcement Date
5 October 2008
Employment effect (start)
6 October 2008
Foreseen end date
31 December 2008

Description

Spanish charter carrier Futura International Airways based in Palma de Mallorca has filed for bankruptcy resulting in the loss of 1,200 jobs. According to the airline unions, the company does not have money "to pay compensation to employees”.

For more information, see EIRO report.


Sources

Citation

Eurofound (2008), Futura, Bankruptcy in Spain, factsheet number 67295, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67295.