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.
Orange2Fly, a charter flight airline set up in September 2015 with a share capital of € 200,000, has applied for bankruptcy in September 2021. The company was in a development stage for its fleet and its flying activity but the Covid-19 pandemic resulted in negative financial results. The airline employed 200 people, and in 2019 it had carried 250,000 passengers. Early in 2021 the carrier had applied for an €8 million loan from one of Greece's commercial banks but this was rejected.
Eurofound (2021), Orange2Fly , Bankruptcy in Greece, factsheet number 105283, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/105283.