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.
Transportation / Storage Warehousing And Support Activities For Transportation, Postal And Courier Activities Warehousing And Support Activities For Transportation 52.2 - Support activities for transportation
400 jobs Number of planned job creations
Announcement Date
13 January 2009
Employment effect (start)
1 October 2009
Foreseen end date
1 January 2012
Description
The Jet Republic, a new private jet airline, has announced that is to create 400 to 500 new jobs. The new private jet operator has placed a $1.5 billion order for 110 Lear jets in a bid to penetrate the European market for luxury air travel. The management said that the company will fly to more than 1,000 airports in Europe (including London, Paris, Geneva, Moscow and Milan) starting from next October.
Jet Republic has established its base in Portugal due to the country's favourable tax structure and its low cost and high skill base.
Besides the headquarters, Jet Republic also intends to build a training centre with simulation in Portugal. Jet Republic is backed by Austria’s Euram private bank and a consortium of its clients.
Sources
13 January 2009: Jornal de Notícias
Citation
Eurofound (2009), Jet Republic, Business expansion in Portugal, factsheet number 67866, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67866.
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