Majorca-based Spanair is Spain’s second biggest airline, after Iberia. Founded in 1986, it is facing mounting losses from fierce competition and rising fuel prices. The 63-plane business, which carries 10m passengers a year, is owned by Scandinavian Airlines Systems (SAS), the leading Nordic carrier. Last June SAS announced it planned to sell Spanair, which made a loss of about £40m in the first half of this year. But after a year of failing to attract any acceptable bids, SAS announced it would be forced to keep the subsidiary, which flies 371 daily departures between 36 airports, sending its share price tumbling. Shortly before the Madrid crash, Spanair pilots threatened to strike over a plans to cut capacity by a quarter and sack more than 1,000 staff - more than a quarter of its workforce. “The organised chaos in which...
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