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.
Port Lotniczy Poznań-Ławica (Poznań-Ławica Airport) announced that it will decrease its employment by at least 20% due to the COVID-19 pandemic which affected passenger turnover. The airport decided to implement a cost-saving and restructuring programme which will affect between 20% and 40% of employees (between 60 and 120 jobs). The conditions of the programme are being negotiated with the local trade unions.
The company is trying to get loans to maintain liquidity (if banks do not support the liquidity is expected to be lost in the second quarter of 2021). By September 2020, the company’s operating loss was PLN 20 million (€4.45 million); the company estimates the loss will be up to PLN 40 million (€8.91million) by the end of 2020. Before the crisis, the firm expected up to 1.8 million passengers this year (until September 2020, the number of passengers surpassed 515,000). According to the company, measures in amount of PLN 1.9 million (€423,341) from the Anti-Crisis Shield (a package of laws aimed to support Polish companies amid the growing pandemic) will be insufficient to deal with the effects of the pandemic. As other airports in Poland, the airport in Poznań is waiting for additional financial aid to cover the maintenance costs as promised by the Government.
The airport, built in 1913, is one of the oldest airports in Poland. Currently, the company employs about 300 people.
Eurofound (2020), Port Lotniczy Poznań-Ławica, Internal restructuring in Poland, factsheet number 102027, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/102027.
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