Friday 27 January 2012

Spanair applies to stop all its flights

The decision of Qatar Airways not to take a 49% share means the operation is not viable.Archive Photo EFE Qatar Airways has decided not to invest in Spanair, and the Barcelona Generalitat regional government has announced they will no longer inject funds into the airline. It means the airline will not get the 150 million € which it was expecting from Qatar for a 49% share. It seems Qatar have decided to turn away for fear of sanctions for the airline regarding the Government grants. Since 2009 the Generalitat has given more than 100 million to the airline, and Qatar wanted assurances that the European Commission would not claim that money back at a later date. Latest reports are that the airline is preparing an application to suspend all its flights, given the fact that its financial situation is untenable, with large losses and a large debt. The company gives direct and indirect jobs to some 4,000 people, and says it needs 150 million to face their financial obligations.


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