Spanair goes bust – all flights likely to be cancelled as from tomorrow?

It appears Spanair, Spain’s largest private airline, has gone bust after a Qatar investment fund pulled out of an investment talk. EFE, the news agency, is tonight reporting that the company is preparing a report, to be presented tomorrow to Spains’ aviation authority, admitting that it has run out of cash and cannot continue to operate. AENA, the airports authority, is preparing for a wave of cancellations as from midnight, and has already started to Continue reading Spanair goes bust – all flights likely to be cancelled as from tomorrow?

Spain’s Finance Minister Cristobal Montoro admits unemployment rate has jumped to 24pc

Spain’s unemployment rate has jumped to nearly 24pc in the fourth quarter, Finance Minister Cristobal Montoro said on Thursday, confirming that the country is still in the throes of a long and painful economic crisis. Mr Montoro told a parliamentary commission on Thursday that official figures due out Friday will show 5.4m people were out of work at the end of December, up from 4.9m in the third quarter, when the jobless rate was 21.5pc. Continue reading Spain’s Finance Minister Cristobal Montoro admits unemployment rate has jumped to 24pc