Pilot selection and training company: Preparing, validating and implementing restructuring plans
Since the beginning of the financial crisis in 2008 the airline industry and our client had faced a significant drop in demand for airline pilots. The crisis had resulted into overcapacity in the market for beginning pilots especially in the Netherlands, this resulted in a waiting list of approx. 800-1.000 starting pilots without a job. Beaufort has drawn up a restructuring plan that has been implemented successfully. As a result, cost savings were realised, a capital injection was completed, the company returned to profitability, and the bank continued the granted credit facilities.
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