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.
OSM Aviation Finland, a staffing agency owned by the commercial aviation company Norwegian, has filed for bankruptcy in Finland. In total 320 employees, who have been working as members of the cabin crew on Norwegian’s planes, will lose their jobs.
Due to the COVID-19 pandemic, many countries have set travel restrictions which led to a decrease in the volumes of air passenger travel, which has had a significant impact on the aviation company Norwegian. In April 2020, four of its subsidiaries filed for bankruptcy in Sweden and Denmark. OSM Aviation Finland, a subsidiary that employs cabin crew working on Norwegian's planes filed for bankruptcy in Finland.
Eurofound (2020), OSM Aviation Finland , Bankruptcy in Finland, factsheet number 101126, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101126.