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.
Spanair, a Spanish airline owned by the SAS Group, is to cut 1,100 jobs across Europe. At the beginning of July 2008, the company has announced a reorganisation plan that envisages 1,100 job cuts, out of 3,800 employees, and the elimination of nine routes. 120 redundant workers should be pilots. The company has taken this decision to cope with a global airline crisis, mainly due to the relevant increasing of fuel’s prices. Spanair was founded in December of 1986. It is 100% owned by the SAS Group (Scandinavian Airlines). Since April 2003, Spanair is a member of the Star Alliance network, the biggest airline alliance in the world. It has around 3,800 employees in the European Union.
Eurofound (2008), Spanair, Internal restructuring in European Union, factsheet number 66929, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66929.