Adria Airways

Type
Internal restructuring
Country
Slovenia
Region
Slovenija; Osrednjeslovenska;
Location of affected unit(s)
Ljubljana
Sector
Transportation / Storage
Land, Water And Air Transportation
Air Transport
51 - Air transport
90 jobs
Number of planned job losses
Job loss
Announcement Date
1 October 2011
Employment effect (start)
3 October 2011
Foreseen end date
31 December 2012

Description

Adria Airways is the Slovenian national air carrier, located in Ljubljana and employing 452 employees. Due to long-lasting bad management and economic recession the company is heavily indebted. An overwhelming restructuring plan was adopted on 30-09-2011, according to which the number of employees will be reduced by one fifth, i.e. by 90. Other main characteristics of the restructuring programme are: the state will put additional equity of EUR 50.0 million in the company, the creditor banks will swap EUR 19.7 million of their claims into equity, number of airplanes and flight destinations will be reduced.

Sources

  • 1 October 2011: Delo

Citation

Eurofound (2011), Adria Airways, Internal restructuring in Slovenia, factsheet number 72436, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72436.