Press: Air Madrid confident in selling airline

Air Madrid management is confident of finding a buyer for the troubled no-frills airline and maintaining its staff after German charter flight group LTU broke off stake buy negotiations last week, La Gaceta de los Negocios reported, citing unnamed Air Madrid sources. The airline filed for bankruptcy last week after having abruptly suspended operations Dec 15, leaving thousands of flyers stranded.

The company and the airline’s unions have said they are ready to incorporate the business into another company immediately, even though it may have ‘another management policy,’ the newspaper said.

Separately, the newspaper cited the same sources as saying they hope to postpone the demonstration planned for this Sunday by various groups of passengers affected by Air Madrid’s demise.