OSM Aviation Finland

Type
Bankruptcy
Country
Finland
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51.1 - Passenger air transport
320 jobs
Number of planned job losses
Job loss
Announcement Date
26 June 2020
Employment effect (start)
26 June 2020
Foreseen end date

Description

OSM Aviation Finland, a staffing agency owned by the commercial aviation company Norwegian, has filed for bankruptcy in Finland. In total 320 employees, who have been working as members of the cabin crew on Norwegian’s planes, will lose their jobs. 

Due to the COVID-19 pandemic, many countries have set travel restrictions which led to a decrease in the volumes of air passenger travel, which has had a significant impact on the aviation company Norwegian. In April 2020, four of its subsidiaries filed for bankruptcy in Sweden and Denmark. OSM Aviation Finland, a subsidiary that employs cabin crew working on Norwegian's planes filed for bankruptcy in Finland. 

Sources

Citation

Eurofound (2020), OSM Aviation Finland , Bankruptcy in Finland, factsheet number 101126, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101126.