Etihad Airways partner airberlin is set to undergo a “far-reaching” restructuring including up to 1,200 job cuts and giving its rival Lufthansa up to 40 of its aircraft. Germanys second-largest airline said late on Wednesday that it would become a “leaner, fitter, stronger” carrier operating from its two key hubs in Berlin and Dusseldorf, with…
To employ excess aircraft and crew capacity, airberlin intends to provide up to 40 Airbus A320 family aircraft to the Lufthansa Group with up to 38 aircraft to be wet-leased under a six year wet-lease agreement.* The restructuring follows a comprehensive, bottom-up review of all operations, seeking to improve efficiency, limit seasonality and re-establish a…
Rob Cullins. Wine and spirits group SPI Group, which includes Stolichnaya vodka in its portfolio, has announced today that Robert Cullins, the CEO of Stoli Group, will leave the company on 15 October. Luxembourg-based SPI, founded in 1997, says the move is based on a joint decision and comes as part of the Stoli Groups…
Planned Section 363 Sale Will Improve Company’s Financial Position, Strengthen Brand BOSTON, Sept. 28, 2016 (GLOBE NEWSWIRE) — Cosi, Inc. (NASDAQ:COSI), the fast-casual restaurant company, today announced that it and its subsidiaries filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for the District of Massachusetts, initiating a process intended…
BOULOGNE-BILLANCOURT, France–(BUSINESS WIRE)–Regulatory News: SoLocal Group (Paris:LOCAL) I. Terms and conditions of the financial restructuring plan The financial restructuring plan will be submitted to the vote of creditors on 12 October 2016, the one of shareholders on 19 October 2016, and afterwards to the approval of the Commercial court of Nanterre. The voting process is…
Sinopacific Shipbuilding Groups Zhejiang Shipyard has held a ship launching and naming ceremony earlier this week, marking the yards slow return to business amidst its bankruptcy reorganisation. The Chinese shipbuilder hosted a naming ceremony for a $15m AHTS vessel named Rawabi 201 for Singapores Vallianz Holdings, and launched a PSV for Shanghai Salvage Companys subsidiary…
Wolseley is to spend £100m on slashing 800 jobs and closing 80 branches in the UK. The worlds largest supplier of plumbing and heating products outlined the cutbacks as part of a review of its British operation, which has been hit by tough competition and tepid demand in the property repair, maintenance and improvement market.…
Comvita chief executive Scott Coulter says job cuts have been difficult. Photo/George Novak Honey and health products company Comvita will cut 21 jobs in its Paengaroa head office and a further two jobs in Auckland as a result of its recently announced restructuring. Chief executive Scott Coulter told the Bay of Plenty Times on Monday…
Shutterstock photo (RTTNews.com) – EnerNOC Inc. ( ENOC ), a provider of energy intelligence software or EIS and demand response solutions, said it is restructuring its subscription-based EIS business to refine its focus to select industry segments and high potential customers. This includes an immediate reduction of its global workforce by about 15…
Timothy Healy, chairman and CEO of EnerNOC. W. Marc Bernsau EnerNOC Inc., the Boston energy software firm, said Friday that it immediately is cutting its global workforce by approximately 15 percent, with about 200 workers losing their jobs and about half of those in the company’s Seaport District headquarters. … Read the full article at:…