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 Swedish airline company Skyways Express and its subsidiary company City Airlines have filed for bankruptcy and over 300 employees will be affected. High fuel costs, low ticket prices and increased competition have been reported as reasons for the bankruptcy. Despite the company's effort to maintain the business, its operations were ceased and all flights cancelled with immediate effect, leaving around 12,000 passengers on the ground.
Skyways is a regional airline that flied to over 20 destinations in Sweden and Europe.
Eurofound (2012), Skyways, Bankruptcy in Sweden, factsheet number 73601, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/73601.