Spanish airline Spanair ceases operations after running out of funds
28 January 2012Spanair ceased operations late Friday after a regional government in Spain announced it could no longer fund the airline, officials said.
Spanair’s financial woes were exacerbated by a 2008 crash that killed 154 people. Eighteen people survived what was Spain’s worst aviation disaster in 25 years. In a statement, the airline said its “‘last commercial flight will land at’†10 p.m. (2100 GMT) on Jan. 27.
The regional government of northeastern Catalonia, which had been investing in the country’s No. 4 airline since its 2008 purchase from SAS Scandinavian Airlines System International, said in a statement that it could no longer bankroll Spanair.
source: washingtonpost.com