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 irish airline company Ryanair has announced that it will close its base at the airport in Valencia as a consequence of the rejection of the Government to grant aid for its growth plans. The closure of the company will result in the loss of 70 flights, 750,000 passengers a year and about 750 jobs, although only 100 are directly affected. According to a company spokesman, the planned investment by the company for the Manises airport will be relocated to other bases. Ryanair created its new base in Valencia in August 2007 and has increased passenger traffic by more than 25%.
Eurofound (2008), Ryanair, Internal restructuring in Spain, factsheet number 67290, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/67290.