Spanish airline Spanair ceases operations after running out of funds28 January 2012
Spanair ceased operations late Friday after a regional government in Spain announced it could no longer fund the airline, officials said.
Spanairâ€™s financial woes were exacerbated by a 2008 crash that killed 154 people. Eighteen people survived what was Spainâ€™s worst aviation disaster in 25 years. In a statement, the airline said its â€œlast commercial flight will land atâ€ 10 p.m. (2100 GMT) on Jan. 27.
The regional government of northeastern Catalonia, which had been investing in the countryâ€™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.