Type
Internal restructuring
Country
Spain
Region
Este; Comunidad Valenciana; Valencia / València
Location of affected unit(s)
Manises
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

100 jobs
Number of planned job losses
Job loss
Announcement Date
27 October 2008
Employment effect (start)
4 November 2008
Foreseen end date
10 November 2008

Description

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%.


Sources

Citation

Eurofound (2008), Ryanair, Internal restructuring in Spain, factsheet number 67290, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/67290.