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.
The merger of the airline companies Vueling and Clickair will represent the loss of 200 works posts, given that Iberia, major shareholder of the carrier resulting from the liaison with 45% of the shares, will assume the handling services and fleet maintenance services that to date had been carried out by Vueling's own personnel. This morning the company's Chairman, Josep Piqué, explained that "they will be trying to incorporate as many Vueling employees as possible into Iberia's handling services" so that adjustment will be less traumatic. The merged carrier that saw the light with 1500 employees will reduce its staff to 1300. Notwithstanding, this reduction in work posts must be added to those that have been taking place in parallel fashion in both Vueling and Clickair during the past year, prior to signing of the merger. The alliance between the two companies is to be approved today by the general shareholders' boards, as is likewise the case with composition of the new Board of Administration, which continues to be presided over by Piqué. Vueling operates 35 aircrafts covering 90 routes and expects to invoice about 800 million Euros this year "with good profitability ratios", in words of Piqué.
Eurofound (2009), Vueling, Internal restructuring in Spain, factsheet number 69321, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/69321.
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