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October 20, 2020
BUSINESS

Spanair financially collapsed

Spanish airline Spanair went bust early Saturday, forcing many passengers to find seats on flights with other airlines at short notice, CNN informs. The airline said its last flight had landed at 10 p.m. Friday. “Because of a lack of visible financing in the next couple of months, the company has chosen to cease the operation of its flights as a prudent and secure measure, and it will now take all legal pertinent measures,” Spanair said in a statement. Scandanavian airline SAS, which used to own Spanair and still has a partial share in it, said its results would be down by about USD 252 million as a result of the airline’s bankruptcy.

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