Though there’s never a good time for a company to head towards bankruptcy, it’s especially difficult at the holidays. Unfortunately the Spanish airline, Air Comet, has filed for protection from creditors. This next step towards bankruptcy or a similar road comes at a terrible time. In spite of efforts to do otherwise, the step seemed inevitable for the failing airline. They simply can’t compete with the number of airline carriers out there. They have also been struggling just to stay afloat in light of the number of discounted airfares being offered within the industry.
Not only has Air Comet filed for protection from creditors, but it has also laid off its entire workforce. The entire workforce for the airline carrier has been laid off immediately in a last ditch effort. This comes at a very rough time in the midst of the holiday season, but the struggling airline carrier was left with no other choice. They are still hoping to be able to sell off the airlines to an interested party, and therefore have taken the proper steps to do so. Though it comes as no surprise since the airline carrier had been struggling for quite some time, it is still very difficult for those who lost their job at this most unfortunate time of year.
Air Comet specialized in flights between Spain and Latin America specifically. While they did do well in the past, they had been struggling for months. So while the latest move came as no surprise, it was still distressing for all involved. The word was that the deal between Air Comet and Dutch company Air Transport was final. Though the deal did go through, payments were never made. Therefore the airline carrier was forced to take drastic measures to handle a very dire situation. It is hoped that the deal will come through or another interested party will step forward. However in the meantime, there is no activity as personnel have been laid off and the action to get protection from creditors has already been filed.