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.
Lithuanian National airlines flyLAL - Lithuanian Airlines announced its bankruptcy on 3 March, 2009. All 274 people working in the company were dismissed on 27 May, 2009. According to the management, the cause of the bankruptcy was huge debts of the company that amounted to about 90 million LTL.
Eurofound (2009), flyLAL – Lithuanian Airlines, Bankruptcy in Lithuania, factsheet number 69021, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69021.