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.
Airline Spanair, which is headquartered in Palma de Majorca, has reached an agreement with pilots to lay off 117 (23.4%) out of 500 crew members. Furthermore, 73 captains will be downgraded to co-pilots, meaning a reduction in salary of between 15% and 20%. This personnel adjustment is part of Spanair's plans to reduce its fleet of McDonnell Douglas planes - its oldest planes - by 10.
Eurofound (2009), Spanair, Internal restructuring in Spain, factsheet number 69901, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/69901.