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.
On 13 February 2017, Dutch budget airline Transavia announced to cut about 100 jobs due to closing its site in Munich. The closing will be implemented by the end of October 2017. The company will focus more on the Netherlands and will return its aircrafts from Munich to the Netherlands.
According to the media, this step is due to the highly competitive market, especially with the competitor Eurowings, a subsidiary of Lufthansa.
Transavia was the first budget airline at the airport in Munich opening in 2016.
Eurofound (2017), Transavia, Closure in Germany, factsheet number 90388, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/90388.