More trouble as Spanish airline LTE is grounded
Hundreds of UK holiday makers are stranded across Spain after it was revealed that Spanish airline LTE has been grounded due to a lack of funding and an inability to cover ongoing costs. This is the latest failure in what has been a dark few months for the airline industry and for which the recent fall in the price of oil has come too later.
While the problems with LTE have affected a number of UK holiday companies it has been reported that Cosmos customers will be flying home on time via alternative airlines although this will still leave many holidaymakers stranded. Even though LTE has promised to help where possible the pot is empty and they literally have no funding available to make a real difference.
After the last round of airline bankruptcies many had expected the scene to go fairly quiet for a while as companies retrenched and attempted to get their balance sheets back in order. However, groups such as LTE have been struggling for some time and finally took the plunge today. Others are certain to follow but who, when and where is very much a worry for those planning to travel abroad in the run up to Christmas.
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