neoncircles
4th September 2008, 17:36
Taken from a spanish website, translated
Futura workers will propose to collect 1,000 euros per month for not making regulations
The address today to submit works council plan viability of the company
Colleen RUIZ
The fiscal year 2008 is not being very buoyant for the Spanish airline industry, mainly because fuel prices and the economic recession. The company Futura, in this sense, before the fall of turnover and failure to generate sufficient provision of funds to absorb the economic losses that will be generated this winter, will propose the works council a viability plan that does not contemplate drastic regulation of employment.
The address of Futura International Airways, headed by its president, Roman Pané, today presented the works of the airline its viability plan, while analysing the crisis affecting the aviation sector and the impact of increased fuel on this transport activity.
Charging $ 1,000
Sources union confirmed yesterday that the main proposal that the company will put on the table of negotiation will be restricted to economic issues. "We intend to offer all workers in Future charge only about 1,000 euros per month for six months, so as not to increase operating costs, thereby avoiding any kind of regulation of staffing. The primary objective is that the company re-entering the black, pointed to this newspaper yesterday.
Since the company was merely reflect that this is a far more to implement, "but what is clear is that the situation is not the most favourable. The problem is not in the business, but we have no capacity to finance the debts that occur every winter activity in the charter, which were undertaken with the benefits to be generated in summer, a circumstance that has not happened this year.
The union cited sources also indicate that this proposal has been demanded by the maximum shareholder of Futura, the British investment fund Hutton Collins, with 46% of capital, so as to inject more money into the company. The remaining shares are held by directors and employees of the airline. The intention of the company is that during these six months, the rest of receiving no money shall be paid in company stock, whose value was overestimated to mitigate the overall amounts of money that will no longer receive all workers.
This measure, novel in the history of commercial aviation Balearic and Spanish, will join other complementary measures, after which the future could cope with all debts and to meet new business challenges.
The company currently has a fleet of 33 aircraft around the world and 1,500 employees, of whom 600 are based at headquarters and in Palma. Over the past year had a turnover of 334'6 million and transported 3'7 million passengers.
Futura workers will propose to collect 1,000 euros per month for not making regulations
The address today to submit works council plan viability of the company
Colleen RUIZ
The fiscal year 2008 is not being very buoyant for the Spanish airline industry, mainly because fuel prices and the economic recession. The company Futura, in this sense, before the fall of turnover and failure to generate sufficient provision of funds to absorb the economic losses that will be generated this winter, will propose the works council a viability plan that does not contemplate drastic regulation of employment.
The address of Futura International Airways, headed by its president, Roman Pané, today presented the works of the airline its viability plan, while analysing the crisis affecting the aviation sector and the impact of increased fuel on this transport activity.
Charging $ 1,000
Sources union confirmed yesterday that the main proposal that the company will put on the table of negotiation will be restricted to economic issues. "We intend to offer all workers in Future charge only about 1,000 euros per month for six months, so as not to increase operating costs, thereby avoiding any kind of regulation of staffing. The primary objective is that the company re-entering the black, pointed to this newspaper yesterday.
Since the company was merely reflect that this is a far more to implement, "but what is clear is that the situation is not the most favourable. The problem is not in the business, but we have no capacity to finance the debts that occur every winter activity in the charter, which were undertaken with the benefits to be generated in summer, a circumstance that has not happened this year.
The union cited sources also indicate that this proposal has been demanded by the maximum shareholder of Futura, the British investment fund Hutton Collins, with 46% of capital, so as to inject more money into the company. The remaining shares are held by directors and employees of the airline. The intention of the company is that during these six months, the rest of receiving no money shall be paid in company stock, whose value was overestimated to mitigate the overall amounts of money that will no longer receive all workers.
This measure, novel in the history of commercial aviation Balearic and Spanish, will join other complementary measures, after which the future could cope with all debts and to meet new business challenges.
The company currently has a fleet of 33 aircraft around the world and 1,500 employees, of whom 600 are based at headquarters and in Palma. Over the past year had a turnover of 334'6 million and transported 3'7 million passengers.