InselAir is trying to keep layoffs at a minimum
WILLEMSTAD – During a press conference, the new management of InselAir indicated that recently they presented their stabilization plan to the Supervisory Board. Currently, the company is working on reducing its operational costs but what they are doing now is not enough. “We have to cut more in our budget, especially the personnel costs, but we still don’t know how we are going to do this,” said the new CEO of the company Gilles Filiatreault.
On the same day as the press conference, the new management held a meeting with the employees. During this meeting, the employees received more information about the status of the company. According to Filiatreault, the meeting went well. The employees were expecting ‘bad news’, especially on the financial part. The 2016 financial numbers do not look good and the first few months of this year InselAir looks at a 12 million dollar loss.
According to the management, they are looking for creative ways to keep the layoffs at a minimum. Creative in the sense that people could share work hours. Employees can be offered fewer work hours which will allow more people to stay at the company.
Currently, all C-checks have been canceled. The MD aircraft are old and cost a lot to maintain. The company is also planning on a fleet change. But this will take place at a later stage.
Filiatreault indicated that it is important for the company to get out of the negative numbers to start paying its creditors. The management is negotiating with its creditors and asking them to be patient. Filiatreault is convinced that by May or June the company will be able to start paying its creditors again.