LTE - not looking good

[davidjohnson6]

Apologies if I sound like an undertaker, but it's not looking good for LTE - charter airline based in PMI

Interstitial - Noticia (http://www.elmundo.es/mundodinero/2008/10/16/economia/1224188868.html)

Google Translator gives the following in English from the Spanish article in El Mundo of the title and first four paragraphs.

LTE becomes the second Spanish airline that suspended operations in a month

The company LTE just suspend their operations, according to this newspaper confirmed the Directorate General of Civil Aviation. Just two hours, the manager of the company telephoned the Ministry of Public Works to report the cessation of its flights for financial reasons, as confirmed by sources close to the company, which also warned that the company has gone bankrupt.

The company has also sent a message to the crew of his aircraft warned that "with banking problems" temporarily cease operations. This newspaper found that no longer can make reservations through their website.
Civil Aviation LTE requested information about its economic situation for 10 days. After providing such documentation, the company opted to suspend its activity.

Fuentes de Fomento explained that those in charge of Civil Aviation will discuss tomorrow the state of the company to make a decision about whether you withdraw or suspend the operating license.

[airhumberside]

Apologies if I sound like an undertaker, but it's not looking good for LTE - charter airline based in PMI
Not just charters - scheduled flights from Norwich and Italy too

[Seljuk22]

Not only LTE looking bad - almost every Spanish carrier has problems. Futura, LTE and Lagunair go bust. IB and JK have problems with their loads and profits, Clickair and Vueling merger but a lot of route cancellation and reduction. And UX? I think they have the same problems. If you look at the AENA traffic stats of September you'll see what happened: massive losses! Maybe EZY, FR and AB do something.

[ara01jbb]

It's over, it seems; this announcement on LTE's homepage (Google translation, original below). The thing that worries me is that "temporarily suspending flights" doesn't exactly offer much specificity or confidence to staff and passengers.

IMPORTANT NOTICE SUSPENSION OF SERVICE

The airline LTE International Airways Ltd. announced that because of the financial situation of the company will not be able to meet the operating expenses in the coming days, thus temporarily suspending flights and regular charter that by 00:01 hours on 17 October 2008.

LTE will do everything we can to minimize the impact of the suspension on customers and suppliers.

After 20 years of service to its customers, it was not possible to avoid this decision. We apologize to passengers, customers and suppliers for this situation.

LTE International Airways SAAVVISO IMPORTANTE SOSPENSIONE DEL SERVIZIO
La compagnia aerea LTE International Airways S.A informa che a causa dell’attuale situazione finanziaria della compagnia non sarà possibile far fronte alle spese operative dei prossimi giorni, pertanto sospende i voli temporaneamente sia charter che regolari dalle ore 00:01 del 17 Ottobre del 2008.

LTE farà tutto il possibile per minimizzare l’impatto della sospensione sui clienti e sui fornitori.
Dopo 20 anni al servizio dei suoi clienti, non è stato possibile evitare questa decisione. Ci scusiamo con i passeggeri, i clienti e i fornitori per questa situazione.
Lte International Airways S.A.

[A319-100]

Sky news now reporting that LTE gone bust

[loobysue]

What flights does that have knock on effect on here at the moment does anyone know?
Have stranded pax numbers and destinations been announced yet

[Seljuk22]

I've heard that LTE operates some flights for Futura. So passengers get frustrated more and more. One example: flight ACE-FRA-HAM cancelled.

[seasexsun]

Maybe EZY, FR and AB do something.


Vamos a ver. easyjet, rynanair and airberlin has stoped everything. recruitment canceletions, and aircraft grounded. Air Berlin being probably the next airline to go bust (extremely high probability).
Ryanair will close the Valencia base today if they don't get money from the government. easyjet is overall looking bad, in the orange gauges :} and they have problems especially with Spanish market wich is very dangerous for them. Madrid asturias is now finish as far as I know.

[davidjohnson6]

seasexsun - I'm not sure I quite understood what you meant in your last post. Would you be kind enough to clarify, and also provide some sort of source for your information about easyJet please ?

[ara01jbb]

What flights does that have knock on effect on here at the moment does anyone know?
Have stranded pax numbers and destinations been announced yet BBC reports that most Cosmos passengers from BHX and GLA will fly with Monarch and be bused to/from MAN. 320 due back today, 350 back in the next week or so. NWI has also released a statement, most passengers from there booked through tour operators and have not yet departed so no strandees (edit: or so I thought, see below).

[loobysue]

yes norwich airport website now saying

Passengers who were due to return tomorrow (18th October) from Barcelona, Alicante and Palma must make alternative arrangements to fly back.

what a shame for those passengers yet again, we are off to Barcelona half term with Jet2 so keeping our fingers crossed, were supposed to meet up with friends who were flying LTE from Norwich, am just trying to get them rebooked, they dont know yet as they are both still at work

[Mister Geezer]

Thankfully in the case of Norwich we are not talking a significant number of passengers. Loads have been fairly quiet over the past week or two, however that will be little consolation for those who are stuck abroad!