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.
Estonian Air, the Estonian national carrier, announced that in order to avoid insolvency, it will cut its personnel by 146. The reduction in workforce is due to a considerable decrease in flight volume and it will affect all structural units of Estonian Air. After the restructuring, Estonian air will employ 172 people, 100 of them will be flight personnel and 72 will be working in support functions and operational administration.
Earlier it had become clear that the company’s financial loss had become unsustainable, which led to a change of strategy and the decision to focus on core routes only.
The redundancies of administrative personnel will take effect immediately. Reduction among the flight crews will be implemented at a later stage. Overall, the restructuring is expected to be implemented by February.
Sources
20 November 2012: Aripaev
Citation
Eurofound (2012), Estonian Air, Internal restructuring in Estonia, factsheet number 74553, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/74553.
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