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Avensa details restructure progress and plans.

AIRLINE INDUSTRY INFORMATION-(C)1997-2000 M2 COMMUNICATIONS LTD

Avensa, a Venezuelan airline, has indicated that it is undergoing a restructure in order to avoid bankruptcy.

The airline has apparently cut its workforce by 1,450 jobs over the last year and now employees only 850 people. Avensa has indicated that it requires about USD30m in order to stay afloat in the initial stage of the restructure.

In other initiatives, the carrier has launched an online ticketing and reservations portal at www.avensa.com.ve and is planning to increase its share in the domestic route market from 40% to 60% according to El Nacional.

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Publication:Airline Industry Information
Date:Aug 4, 2000
Words:116
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