Futura's problems blamed for UK tour firm's collapse

PALMA
THE fallout from the Balearic airline crisis is starting to be felt overseas and yesterday a British budget holiday company with thousands of tourists currently in the Mediterranean, including here in Majorca, went bust blaming the Palma-based airline Futura which grounded its planes on Monday and launched insolvency proceedings.

Seguro Holidays, founded in Kent in 1991, operates out of Prestwick Airport in Glasgow and Kent International Airport at Manston, near Ramsgate Kent but with 80 percent of its flights operated by Futura, the company went into administration yesterday morning blaming Futura's problems.

Over 2'000 people are currently on holiday with Seguro and more than 17'000 had booked to travel with them between now and the end of summer next year.
However, for those stranded her in Majorca there is no need for concern.
The tour firm is ATOl and ABTA recognised and therefore Civil Aviation is now responsible for getting stranded holiday makers home. Their next flight back to Manston, for example, was due to have been tomorrow.

In a statement released by Seguro Holidays, directors Rachel Elliott and Richard Bruke said “Futura's collapse was totally unexpected as an airline with over 230 planes, having a good reputation and being one of Spain's respected airlines. “We offer our sincere apologies and are very sad to have had to make this decision, but we were left with no alternative.” “Clients in resorts will remain in their accommodation until alternative return flights are sourced, and those who have already booked a future holiday, their money is protected, and they will be able to claim back through the CAA or their credit card companies.” A statement issued by Futura said difficulties in the airline sector, including “the excessive and speculative increase of fuel” had put it “in a very difficult situation from the financial point of view”.

The statement said: “Not presenting this request for insolvency proceedings would make complying with our payment obligations with the suppliers impossible.”

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Yesterday, Spanair and Futura continued trying to resolve their futures and the Balearic government announced that it will be setting up an airline crisis committee as quickly as possible to monitor the situation and discuss possible measures of helping the struggling sector and acting as an intermediary between the carriers and the Spanish government.

Spanair is apparently set to apply its cost cutting and restructuring plan this week with the withdrawal of eight planes next month.
Futura's next crisis meeting is tomorrow.