Spanish airline becomes first casualty of Europe’s mounting aviation fuel crisis
For many people living in Spain, catching a plane is no longer an occasional luxury. It is an essential part […]
Spanish airline Albastar has become the first victim of Europe's growing aviation fuel crisis, announcing the suspension of its operations. The company, headquartered in Palma de Mallorca, began flying in 2010 and specialized in charter flights for tour operators, religious pilgrimages, and other specialized travel groups. In July 2014, Albastar received its Air Operator Certificate and passenger and cargo transport licence, marking an important milestone in the company's development.
Despite receiving €15 million in financial support from Spanish development finance institution Cofides during the Covid-19 pandemic, Albastar continued to face financial difficulties due to volatile operating costs. A surge in aviation fuel prices, reaching over $150 per barrel, added another significant burden to the airline. While management is discussing potential investor options, the suspension marks a challenging period for Albastar and the smaller airlines facing financial pressures.
Holidaymakers with bookings through Albastar should contact their tour operator to explore alternative arrangements.
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