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.
In August 2005 it was announced that the low-fare airline company Sterling Airlines were taking over the Danish airliner, Maersk Air. In September Sterling announced that 230 employees will be made redundant in connection with the acquisition. The dismissals are divided between administrative staff (180) and mechanics (50); no pilots or cabin crew members will be affected. The new Sterling will be the fourth largest low-fare airliner in Europe.
Eurofound (2005), Sterling Airlines, Merger/Acquisition in Denmark, factsheet number 62375, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/62375.