Thomas Cook Airlines Balearics, the Spanish branch of the bankrupt Thomas Cook Group, is closing down. According to Alvaro Middelmann, the chairman of the company, the prospects for the future are too bleak to continue. Ninety people are losing their jobs.
The Thomas Cook Group went bankrupt in September 2019, but the Spanish airline Thomas Cook Airlines Balearics, founded in 2017 with aircraft of Thomas Cook Airlines Belgium (which was merged into Brussels Airlines), continued to exist in Palma de Mallorca. The German PANAF Holding took over the company.
The airline filed for insolvency on 26 December 2019, but continued to operate some flights on behalf of Condor. The prospects look uncertain and owner PANAF no longer wants to invest money in the Spanish airline due to the lack of liquidity.
The airline has a fleet of two Airbus A320-200s.