Volotea Downsizes to Cut Costs, Negotiates Debt Terms
15 Articles
15 Articles
Volotea is finalizing discussions with its creditors to restructure their long-term financial debt...
The airline negotiates to restructure the debt in the long term, will fire 50 employees of the Barcelona office and will descend from 44 planes to a range of 30 to 35
Volotea, which is in financial difficulties, has started negotiations on restructuring its debt. An agreement is to be reached by December. In the course of insolvency in self-administration, the workforce and the fleet are to shrink significantly.
Volotea admits losses worse than announced and negotiates with the bank and SEPI a fleet cut from 44 to 30-35 planes and 50 layoffs in Barcelona. The Volotea ticket recognizes losses greater than those announced and prepares a fleet cut to survive aparece primero en Merca2.
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