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 French airline company Corsair, part of the group Nouvelles Frontières (TUI), announced on 23 November 2006 to the work's council that it will cut 211 jobs between January and February 2007. Corsair currently employs 1,800 people.
The company has many financial debts due to strong competition in its activity. Additionally, the situation has become more complicated in the wake of falling figures sparked off by an epidemic of chikungunya on the island of Réunion, one of the main destinations of the airline. Corsair has also reduced the number of planes and it is currently the owner of eight aircrafts only: six Boeing 747-400 and two Airbus A 330.
Eurofound (2006), Corsair, Internal restructuring in France, factsheet number 64493, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/64493.