EMCC European Monitoring Centre on Change

Styrian Spirit

Styrian Spirit

Geographic Location

Country: Austria
Region: Graz; Steiermark; Südösterreich
Location of affected unit(s): Graz


Sector: Transportation / storage
Transportation and storage
51 - Air transport
Number Employed: 152

Employment Effects

Announcement Date: 24-03-2006
Planned Job Reductions min: 152
Planned Job Reductions max: 152
Type of Restructuring: Bankruptcy/Closure
Employment Effect Start: 24-03-2006
Direct Dismissals: 152

Additional Information

On 24 March 2006, only three years after its starting, the small air carrier Styrian Spirit with headquarters in Graz, immediately stopped its operations because of insolvency. As a consequence, all scheduled flights had to be cancelled at short notice. The company’s liabilities as of March 2006 amounted to EUR 44 million. The management sent a notification of the planned dismissal of all 152 employees involved to the Labour Market Service (AMS) still on that day. Only a few days prior, possible investors had abandoned their interest plans.