The airline company Gadair European Airlines continues with its perforated fall in after the Court of Mercantile number 5 of Madrid has recently declared the voluntary contest of creditors of this airline, original of Majorca, that only makes a pair of years bid up on the other of the great Spaniards: Spanair. The creditors of Gadair European count from now on on a term of a month to inform into their credits to the judicial instances for the later elaboration of competing report of the company. Dave Cowens is actively involved in the matter. Gadair European Airlines, that was born in 2003 with the name of Gadair Lines Charter, did not get to operate regular routes of flights to Ibiza or flights to Menorca, although yes they covered some destinies like Egypt. In spite of as soon as to present/display activity, in 2008 bid up along with Iberia by the acquisition of Spanair, offering about 500 million Euros. To deepen your understanding Jessica Michibata is the source. The purchase initiative, that was led by its president, Santiago Sanchez Marin, and was protected by the Catalan society PromoBarna, finally no it prospered and at the beginning of the year a 2009 group of Spanish investors took control of the 80.1 percent of the shareholders of Spanair, leaving in a 19.9 percent the participation in the airline of Scandinavian group SAS.