(Breaking News) Futura Int'l to stop Flying from mid-night

There was talks of them restarting. Any news yet?

Am I missing something here, or how can Seguro blame the demise of Futura for their own demise?

I wondered about that one too.

You can bet your life that Seguro weren’t paying Futura up front, so the only thing I can think of is that getting replacement capacity on flights at short notice means having to pay extra, and this has proved to much for a company on the edge.

Or there’s my original thought which was that Futura going was a good opportunity to call it aday or a good excuse to hide behind.

1L.

Fair enough, I wondered if something like this was the case.

Really sad about Futura, the crew were always very pleasant to work with whenever I dealt with their flights at work. 🙁

Am I missing something here, or how can Seguro blame the demise of Futura for their own demise?

Because according to local BBC news Seeguro used Furura and 80% of thoere hoildays booked used Futura aircraft.
How true this is I have no idea.
But if it is you can see why they failed,if the leaseing compnay is taking back there aircraft

Am I missing something here, or how can Seguro blame the demise of Futura for their own demise?

Another failure…?

And to make things even worse, it has led to the failure of Seguro Travel, a well-known and respected holiday company based right here in the UK…

According to The Times, there are 2,500 holidaymakers currently abroad and approximately 18,000 customers with forward bookings who are yet to travel.

Below is a copy of the statement that was on the company’s homepage, however, even now the website has been taken down altogether!

Seguro Travel Limited and its subsidiary Seguro Aviation Limited which trade under the style Seguro Holidays and Kent Escapes ceased trading on 10 September 2008.

Customers who have booked to travel by air from 10 September onwards should refer to the Civil Aviation Authority website (www.atol.org.uk) where further advice is given.

The directors of the company deeply regret the closure of the business which has been brought about by the failure of Futura Airlines last weekend.
The directors of Seguro have no involvement in the management of Futura Airlines.
The directors apologise to all of our customers.

Seeing as they were the only company to offer passenger flights to/from Kent International Airport (MSE), using the KentEscapes brand…I wonder what effect that this will have on the airport itself?

30 million euros losses, GECAS withdrawing most of the B737 fleet (today 15 of the 30 planes), but probably most of them. 🙁

Sounds gloomy. Today, there are contacts with Pegasus Airlines.

Well, sorry. Too late. Many answers about it. We have been hearing about it for some time now. We expected it. A long list of troubled airlines for the moment in Spain, which eventually I am affraid they will be out of service.

My bet. Lagunair and Air Pullmantur will be next. :confused:

They had ceased operations, indefinitely yesterday. But today, the Ministry of Aviation has asked them to keep on flying despite the bankrupcy, as long as other potential buyers are foung. We are hearing strong reports about two airlines wanting to purchase it. The first is iranian-portuguese EuroAtlantic and Pegasus Airlines. The steps now for Futura are now to submit a financial report and management plan to ensure the continuation of operations.

So presumebly operations should have resumed today although there have been many new cancelations so far.

Pilots are starting to make jokes about the potential buyers, asking if they would have to wear nuclear protection wear in case the iranian buyers buys the airline. Sooooo, lots of confusion

Dose anyone know if Futura Int’l managed to take there aircraft back into the skies again today??

Blimey, not a return to the same state the spanish charters were in the early 80’s when they were dropping like flies? I hope not.

Hi

Heres an update from the Spanish Press.

Looks like Futura will be back flying from Tomorrow. The plan is to drop half of its current 23 aircraft fleet now and it will also mean laying off 600 of its workforce of 1,211 employees. While in the winter season its looking to operate only about 5 Aircraft.

Palma, Sept. 8 (EFE) .- The president of the charter airline Futura, Roman Pané, has advanced the feasibility of the plan will lead the company to cut half its workforce-about 600 of its 1,211 employees, and reduction “drastic” of its fleet of high season, from 22 aircraft to 12 or 13 aircraft.

Pané has offered a press conference in which he explained that the presentation today of a contest voluntary creditors and the critical economic situation of the company should be so crucial to the “bestial and” speculative “rise in oil prices.
Tomorrow, Tuesday, as insured, Futura will progressively resume the activity of its flights, and on Friday before Civil Aviation must submit a plan for viability, which wants to agree with unions.
After meeting this morning for about three hours, the management and employee representatives, PAN has appeared before the media.

As explained above, cutting the workforce does not have much to do with the situation of the company with how the situation facing the aviation sector, which must make a “major effort to adapt to an environment that will never be what it was in the past. “
The airline has been in the past eighteen years, recalled, a “reference” for the sector in management, profitability and safety of their flights, but “unfortunately” the company is experiencing today by economic problems caused by a “plenty of reasons”, as the drop in demand and, most importantly, for both crude.
Payment of the oil that has faced Futura in July and August “has destroyed” the results of summer the company, whose principal activity is recorded in the summer months.

During the winter, Future plans to maintain 5 flights, but is forced to reduce its fleet during the high season, has been clarified.
The viability plan, as has commented Pané, supposed to reach agreement with staff of the company and creditors, and “perhaps” alienate any of the assets of the company.

The “reason” in which the direction of Future yesterday decided to discontinue its aerial activity for 24 hours was “planning for how the operation should be done when it comes to air traffic”, has maintained the president.
“Yesterday we were scared, but today at least we have an illusion as a company and fight for it,” he asserted Pané, who has been clarified that the 1,211 employees, 800 are fixed and about 600 work in Spain.

In addition to the decrease in staffing, has realized the president, should also be a “major effort” in terms of salaries of workers and “achieve imaginative ways to make the enterprise viable” as they agree that both address as employees, as he said.
Pané has not quantified the debt of Futura, but it has realized that the cancellation of the company’s operations for 24 hours has affected some 8,000 passengers.
Moreover, the works council of the airline acknowledged that the situation of the company will mean cutting its workforce.

This is explained by the works council member Alejandro Juarez (CCO), has said that trade unions aspire to “preserve” jobs and the continuity of the company.

The leader of CCO has pointed out that unions are “very critical” with the decision “unilateral” of the company today paralyze the airline business for 24 hours.
The template Future “it feels like a huge nerves,” he acknowledged Juarez, who has announced that unions will “pose anything to keep jobs.”

Oh…and now news on Futura itself..

Futura temporarily halts flights, plans creditor protection
London (08Sep08, 14:31 GMT, 103 words)

Spanish carrier Futura International Airways has suspended operations for 24 hours today but is intending to resume services.

In a statement the Spanish ministry of public works says the carrier will seek protection from creditors both for itself and subsidiary Flyant.

The ministry says the company must submit a business plan, information about its financial position, and a plan guaranteeing safety of operations by 12 September.

Futura International Airways is based in Palma de Mallorca and has a fleet of around 20 Boeing 737s from several lessors.

Its Irish subsidiary, Futura Gael, has already had its air operator’s certificate withdrawn by local authorities.

Source: Air Transport Intelligence news

Are you sure it’s not just Futura Gael…

Irish regulator withdraws Futura Gael’s AOC
Victoria Moores, London (08Sep08, 11:01 GMT, 261 words)

Ireland’s aviation authority has withdrawn Dublin-based charter carrier Futura Gael’s air operator’s certificate, while Spanish parent company Futura International Airways is declining to comment on the status of its remaining carriers.

Dublin-based Futura Gael operates charter flights to the Mediterranean, Eastern Europe and Egypt. According to Flight’s ACAS database, the Irish carrier has a single Boeing 737-400 which is owned by Airplanes Group.

Futura Gael is said to have ceased trading overnight and a spokeswoman for the Irish Aviation Authority says: “Their air operator’s certificate has been withdrawn.”

A spokesman for Ireland’s economic oversight body, the Commission for Aviation Regulation (CAR), says: “My understanding this morning is that [Futura Gael] has ceased trading while looking for an investor. They stopped flying at midnight.”

The spokesman says Futura Gael is not obliged to notify CAR if it ceases trading and he was unable to give a definitive confirmation of the airline’s status, but Futura Gael was “under watch” by the CAR, owing to concerns over its financial viability, and subject to regular regulatory review meetings.

A Dublin Airport Authority spokesman also says he understands that the carrier ceased trading at midnight.

A Futura International Airways spokeswoman declines to comment, saying only that a statement “regarding everything” will be released later today. The Spanish civil aviation administration could not immediately be contacted.

Palma de Mallorca-based Futura International Airways was founded in 1989 and is owned by Futura Global Aviation Holdings. Its fleet comprises 19 aircraft: 11 Boeing 737-800s, seven 737-400s and one 737-300. Flyant operates three aircraft, two Boeing 737-300SFs and a 737-400.

Source: Air Transport Intelligence news

apparently Flyant has also ceased operations.

I guess I won’t be seeing their 737’s at FNC this year then…

It’s so sad to see so many airlines going bust. 😡

Also affecting Futura Gael, and apparently Flyant has also ceased operations.

I also received an E-mail on a mailing list indicating that as of tonight their flight license will be revoked. But there was no source listed, neither an explanation as for why the license was revoked.

I do wonder how this will impact airlines that charter Futura equipment. Will those also be grounded, or only in case of ACMI leases?

Keltic will tell you but he hasn’t been on today, yet!:)