Flybmi operated 17 regional jet aircraft on routes to 25 European cities. The airline carried 522,000 passengers on 29,000 flights in 2018. The majority of Flybmis 376 employees across the UK, Germany, Sweden and Belgium have been made redundant, although some have been retained to assist the joint administrators. A spokesperson for Flybmi said: The…
OLDWICK, N.J.–(BUSINESS WIRE)–AM Best today announced that Roger Sellek will step down as CEO of AM Bests EMEA and AP regions effective 31 March 2019. Dr. Sellek joined AM Best in 2007. During his tenure at AM Best Dr. Sellek successfully led the expansion of AM Bests global business including the establishment of offices in…
The loss-making engineering and construction services contractor continues its rebuilding process to return DSI to profitability The company appointed Tawfiq Abu Soud, a former managing director of its mechanical, electrical, and plumbing (MEP), and water and power businesses, as its newest CEO last month, just over a month after his predecessor, Yousef Al Mulla resigned.…
The regional airline Flybmi has formally appointed the restructuring firm BDO as administrators after ceasing to trade on Saturday. The airlines immediate owner, British Midland Regional, operated 17 regional jet aircraft on routes to 25 European cities but cancelled hundreds of flights at short notice over the weekend, leaving numerous passengers stranded. Thousands of passengers…
The Australian market has been identified as one of the underperforming markets for Dentsu, with the impacts of lower client spend and changing management contributing to its 2018 financial year results. Following growth in the third quarter, Australia saw a sharp pullback in the fourth quarter resulting in negative growth for the full year. Challenging…
SINGAPORE: Embattled water treatment firm Hyflux on Saturday (Feb 16) morning announced its closely-watched restructuring plan which it said would help to resuscitate the company, but retail investors told Channel NewsAsia that this will see them suffering massive losses. According to an affidavit filed by founder-CEO Olivia Lum to the High Court on Friday, holders…
JOHANNESBURG Under CEO Sipho Maseko over the last six years, Telkom has transformed itself into a very good telecoms business that has shifted its view firmly to the future of data. A few years ago, the company embarked on a restructuring drive that also entailed trimming down its workforce. When Telkom spun-off its wholesale and…
Business rescue practitioners for financially distressed Esor Construction said on Thursday that the company can be saved. BDO Business Restructurings optimism revives hope that the civil engineering and construction firm, which went into business rescue in August 2018, can be brought back to life as a going concern. The business rescue practitioners are still of…
CHARLOTTE, N.C.–(BUSINESS WIRE)–EnPro Industries, Inc. (NYSE: NPO) today announced its financial results for the three-month and twelve-month periods ended December 31, 2018. Consolidated and Pro Forma Financial Highlights (Amounts in millions except per share data and percentages) Results for the Quarter Ended December 31 Consolidated 1 … Read the full article at: https://www.businesswire.com/news/home/20190213005856/en/EnPro-Industries-Reports-Results-Fourth-Quarter-Full
One of the biggest topics as part of Activision Blizzards 2018 Q4 Quarter Earnings call was how the company plans to adjust to refocus on boosting revenue after new competition in 2018 effected the companys overall position in the gaming industry. As part of that, the company stated that they intend to lay off 8%…