Court Protection extended for Futura Gael

Futura Gael were granted an extension to Court Protection yesterday when the Commercial Court was told that the airline had a reasonable chance for survival provided certain conditions were met.

The Revenue commissioners are currently owed €91,000 and have adopted a neutral stance on the application for examinership. Kevin Wallace of accountancy firm KPMG was appointed examiner and now has three months to put together a rescue plan and agree terms with the airline's creditors. The Commission for Aviation Regulation which has revoked Futura Gael's AOC was also represented in court.

Seventy employees were laid off when Futura Gael ceased operations on September 8 when it's Palma de Majorca based parent, Futura Group went out of business.