Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Air France, the French airline operator, announced on 27 November 2006 its plans to launch the low-cost airline Transavia.com France. The new company will be a joint venture with the Dutch airline KLM which, together with its low-cost subsidiary Transavia, are to hold 40% in the new company.
Transavia.com France should create 400 jobs between January 2007 and January 2009 and it is expected to begin operating from the Paris airport Orly Sud in June 2007.
The joint venture will aim for annual turnover of 250-300 million euro until 2009. The new airline will serve tourist destinations not covered by Air France, and will aim to win market share from chartered flight operators. The new unit will offer both scheduled and charter flights, taking bookings from tour operators and selling the rest of the tickets over the Internet. The carrier is an attempt by Air France to recapture some of the leisure traffic that it has lost to low-cost carriers, such as EasyJet and Ryanair.
Eurofound (2006), Transavia.com France, Business expansion in France, factsheet number 64523, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64523.