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 8 June 2010 Malév Hungarian Airlines announced its restructuring plan for the next four years with up to 400 jobs threatened.
The strategy plan aims to remove one quarter of all employees, mainly by reducing the number of administrators. The airline also aims to renew onboard services, increase the number of destinations, increase the flight loads and reduce their airport fees.
More flight crew are to be employed even though salaries will be reduced as it is claimed that Hungarian pilots earn relatively more than the pilots in Western-Europe at the same level. The fleet now consists of 22 aircraft and will increase to 26 in 2012 and 27 in 2014.
The airline aims to gain a profit of 25 Millions Euro till the end of this period.
Eurofound (2010), Malév Hungarian Airlines, Internal restructuring in Hungary, factsheet number 70642, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70642.
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