Futura
 

Evening all..Just hearing some rumours that FUT may not be operating this time tomorrow due to the inevitable fuel pressures and not hedging their fuel this year..I hope sincerely for all that this is not the case as they are a nice bunch of people....

Previous thread already running in Airlines Airports etc. Please say you didn't pick it up from there?

no....just got it from a friend and thinks its a real shame if its true...know a few guys working there and this is the last thing they need

Yep.Its true.No flights tomorrow.

It's always a real shame when businesses go bust and people lose their jobs, especially in sudden hard times like we are entering. We're all just trying to pay our mortgages and car loans and school fees, and it doesn't help when people pop up in various forums making a big game of 'let's guess who will be next to go under!', like some absurd game of grown up pin-the-tail-on-the-donkey. I'm surprised such posts are allowed to stay, but they are. What fun! (not). If another good airline is going under, I don't imagine anyone feels pleasure right now except Mr. O'Leary.

Is Futura Gael affected as well?

Sadly, yes, it will be; it's wholly owned by Futura.

It's sad to see Futura (or, of course, any other airline) go; it's been a presence on the Irish charter scene for nearly 20 years (indeed, EI was a founding shareholder, back in 1989, with 20% but subsequently sold its holding). It's been a regular operator on the Irish market - DUB, ORK and SNN - since then.

Commiserations to the airline's employees at what must be a very distressing time.

http://jetphotos.net/viewphoto.php?id=5739610&nseq=1

Well the barrel is at 106$ now so let's not just blame everything on fuel cost.

Official
 

Only in Spanish, I'm afraid, but you get the gist:

http://www.ultimahora.es/segunda.dba?-1+7+446613

La compañía aérea Futura ha anunciado hoy a sus operadores y proveedores que se ve obligada a cesar sus actividades antes las dificultades económicas que atraviesa. Futura tenía la intención de presentar un concurso de acreedores, pero desde Aviación Civil se le advirtió que esta decisión obligaría a las autoridades a retirarle la licencia de vuelo. Ante esta situación la charter mallorquina dejará de operar a partir de las 00.00 horas de mañana lunes.

The airline Futura today announced its operators and providers who are forced to cease their activities before the economic difficulties being experienced. Future intended to present an arrangement with creditors, but from the Civil Aviation warned that this decision would force the authorities to withdraw the licence of flight. Faced with this situation the charter Majorcan cease to operate from 00.00 pm tomorrow Monday.

More info:

Initially the airline will stop operations for 24 hours. The the Civil Aviation Authorities will decide on their future.

There are strong rumours of corruption in the airline.


This is not the first time an airline suspends operations for 24 hours in Spain. Iberia did it in the past and now are a very successful venture , let's hope this will be the case for Futura ( unliklely )

Found this on the Spanish pprune Futura thread:

My translation:
Tomorrow a meeting with creditors and ERE will take place and also the viability plan will be presented to the corresponding government department. Operations will be suspended from 24 hours tonight (o.ooh Monday) for at least 24 hours.
DGAC warned Futura that if they suspend operations their AOC would be suspended.
Today all airplanes have been ferried to PMI to avoid them being grounded elsewhere.

Very sorry to hear ....

juliett

How much planes do they have? And do they only do charter flights or also line flights?

It's never been the same there since Willie Walsh left.

Furura is (was?) around 10x 738 and 5x 737 classics, so I would say if they go it will create quite a big gap on Spahish charter market. Next week will be hot with many tour operators trying to re-arrange their charter programes and find a new operators.

Rainboe,

I was the one who originally posted that Futura was about to go bankrupt. There were then posts from yourself and others to state that I was irresponsible and living in a fantasy land, even tough I stated that it was from a reliable source. This is a news and rumour network and I asked the question did anyone have any more info on what i had heard. It now transpires that I was not so wrong.
As much as I never like to see an airline go under I would never make a random, reckless thread unless I tought the source was very reliable.
Its more frightning to see such a well eatablished player gone under we must ask whos next?

Aerosexual

Futura have not, on the evidence, gone bankrupt. You could help by choosing words more carefully. Do you know what that one actually means, in legal terms?

Capot,

Bankruptcy is being unable to pay back your creditors. It looks like that the companies that leese the aircraft to Futura have called in money that was owed and they havent got it.
I hope the people who dont come out of this short are the workers on the front line and the passengers who have saved all year for their annual holiday.
I do hope they can make an arrangement with their creditors and avert bankruptcy.

i knew Futura had something around 35x 737-800 -700

Futura International : 19 x 737
Futura Gael : 3 x 737