Spain’s Futura Collapses

Spanish charter airline Futura has ceased operations and filed for insolvency.
A statement issued by the carrier said harsh trading conditions in the airline sector, including “the excessive and speculative increase of fuel” had put it “in a very difficult situation from the financial point of view.”
The statement said: “Not presenting this request for insolvency proceedings would make complying with our payment obligations with the suppliers impossible.”
Futura operated a fleet of more than 30 Boeing 737s to numerous European holiday destinations.
The development comes two weeks after the transatlantic budget carrier Zoom Airlines ceased trading.