Spain’s No. 4 Airline Has Gone Bust


[credit provider=”Getty Images/Denis Doyle”]

Spanair, a Spanish aircraft carrier, announced Friday that it was ceasing all operations after the government of northeastern Catalonia announced that it could no longer fund the airline, the AP reports.In a statement, the airline said its “last commercial flight” will land at 10 p.m. (2100 GMT) on January 27.

Qatar Airways Ltd., the second-biggest Gulf carrier, had been in negotiations to buy Barcelona-based Spanair, but early on Friday, the company pulled out of talks, according to Businessweek.

The Catalan government, which had been bankrolling the airline since it was acquired from SAS Scandinavian Airlines System International in 2008, cited the “current economic climate” and “European legislation concerning competition” as the reasons for lack of financial resources to keep the company afloat.

The airline, which flew both domestic and international routes, advised passengers who had booked flights with it to consult its website for more information. However, at the time of writing, their website was unavailable.

Spanair’s financial woes were exacerbated by a 2008 crash — Spain’s worst aviation disaster in 25 years — that killed 154 people. Only 18 people survived.