Type
Bankruptcy
Country
Spain
Region
Comunidad de Madrid;
Location of affected unit(s)
Madrid
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

700 jobs
Number of planned job losses
Job loss
Announcement Date
22 December 2009
Employment effect (start)
1 January 2010
Foreseen end date
31 March 2010

Description

Spanish airline Air Comet ceased operations on 21st December 2009 and the day after the Spanish government withdrew Comet's operating license because the airline lacks the financial means to continue flying. The airline plans to lay off all 700 employees and file for bankruptcy.

Madrid's Merchant Court 8 has authorised the laying off of 700 Air Comet employees who, from now, will begin receiving unemployment benefit and may make requests to Fogasa (the "Wage Guarantee Fund") for salaries owed by the company, in accordance with the order entered on 17 May 2010.


Sources

Citation

Eurofound (2009), Air Comet, Bankruptcy in Spain, factsheet number 70010, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/70010.