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.
Adria Airways is the Slovenian national air carrier, located in Ljubljana and employing 452 employees. Due to long-lasting bad management and economic recession the company is heavily indebted. An overwhelming restructuring plan was adopted on 30-09-2011, according to which the number of employees will be reduced by one fifth, i.e. by 90. Other main characteristics of the restructuring programme are: the state will put additional equity of EUR 50.0 million in the company, the creditor banks will swap EUR 19.7 million of their claims into equity, number of airplanes and flight destinations will be reduced.
Eurofound (2011), Adria Airways, Internal restructuring in Slovenia, factsheet number 72436, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72436.