Type
Internal restructuring
Country
Luxembourg
Region
Location of affected unit(s)
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

210 jobs
Number of planned job losses
Job loss
Announcement Date
3 April 2006
Employment effect (start)
Foreseen end date

Description

In 2005, Luxair Airline registered a loss of 12 million euros. To avoid further losses up to 21 million euros in 2008, the company has decided to restructure: 210 jobs will be lost up to 2008. To allow Luxair to regain financial health, the job reductions will be accompanied with a wage freeze and a reduction of the fleet.


Sources

  • 13 April 2006: La Voix du Luxembourg
  • 4 April 2006: La Voix du Luxembourg
  • 6 April 2006: La Voix du Luxembourg
  • 4 April 2006: Le Quotidien

Citation

Eurofound (2006), Luxair, Internal restructuring in Luxembourg, factsheet number 63346, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/63346.