EMCC European Monitoring Centre on Change

Air Comet

Company/Organisation:
Air Comet

Geographic Location

Country: Spain
Region: Comunidad de Madrid
Location of affected unit(s): Madrid

Company

Sector: Transportation / storage
Transportation and storage
51 - Air transport
Number Employed: 700

Employment Effects

Announcement Date: 22-12-2009
Planned Job Reductions min: 700
Planned Job Reductions max: 700
Type of Restructuring: Bankruptcy/Closure
Employment Effect Start: 01-01-2010
Foreseen End Date: 31-03-2010
Direct Dismissals: 700

Additional Information

Spanish airline Air Comet ceased operations on 21st December 2009 and the day after the Spanish government withdrew Comet's operating license because the airline lacks the financial means to continue flying. The airline plans to lay off all 700 employees and file for bankruptcy.

Madrid's Merchant Court 8 has authorised the laying off of 700 Air Comet employees who, from now, will begin receiving unemployment benefit and may make requests to Fogasa (the "Wage Guarantee Fund") for salaries owed by the company, in accordance with the order entered on 17 May 2010.