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.
The Czech air carrier Smartwings, which also includes flagship carrier Czech Airlines (ČSA), is to cut up to 600 jobs by February 2021 because of the COVID-19 crisis. The redundancies should take place gradually from July 2020 to February 2021 and will affect the pilots, flight crew and operational and administrative staff. Most employees will be dismissed at the ČSA - almost 400 people out of 700 employees will lose their jobs by the beginning of August 2020.Smartwings, which has about 2,500 employees and operates a fleet of 50 planes on mainly European routes, has been in talks with the Czech government over state aid. The government agreed on Monday 27 June that transport and travel companies may be eligible for a state loan guarantee programme COVID plus.
Eurofound (2020), Smartwings, Internal restructuring in Czechia, factsheet number 101143, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101143.