Type
Bankruptcy
Country
Lithuania
Region
Lietuva; Vilniaus apskritis;
Location of affected unit(s)
Vilnius
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport

274 jobs
Number of planned job losses
Job loss
Announcement Date
21 May 2009
Employment effect (start)
27 May 2009
Foreseen end date
27 May 2009

Description

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.


Sources

  • 21 May 2009: Lietuvos Rytas

Citation

Eurofound (2009), flyLAL – Lithuanian Airlines, Bankruptcy in Lithuania, factsheet number 69021, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/69021.