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.
Transportation / Storage Land, Water And Air Transportation Air Transport 51.1 - Passenger air transport
220 jobs Number of planned job losses
Announcement Date
15 February 2016
Employment effect (start)
21 February 2016
Foreseen end date
29 February 2016
Description
The Commercial court of Tarbes decided on 15 February to liquidate the airline company Air Méditerranée, resulting in the dismissal of all 220 employees. The company, created in 1997, was restructured in 2011 to deal with the sharp competition with east European airlines companies. About 61 employees were dismissed. The competition with low-cost companies and the decrease of tourism in the North-African countries has had a negative impact on the company. In September 2013, the company made a loss of nearly €20 million for a turnover of €411 million.
Sources
15 February 2016: Libération
Citation
Eurofound (2016), Air Méditerranée, Bankruptcy in France, factsheet number 86600, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/86600.
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