Corsair rescue plan: "We should have about 15% downsizing"

INTERVIEW

Corsair, an airline that the French know in particular for overseas connections, will be able to benefit from state aid as part of a recovery plan of nearly 300 million euros, agreement reached there. two days ago.

Asked about Europe 1 on Saturday on the restructuring of the company which has 1,100 employees, Pascal de Izaguirre, CEO of Corsair, estimated that there should be "about 15% reduction in staff" but no redundancies.

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Collective contractual termination

In a press release, the company indicated that "the consortium acquires all of Corsair's capital in order to support it in a restructuring and development project and thus allow the maintenance of a sufficient number of players on the routes of the overseas departments and regions ".

Concretely, does this mean workforce reductions?

“There are of course going to be downsizing. We should have about 15% downsizing,” says the CEO.

"But above all, I renegotiated all the historic collective agreements for flight crews and I believe that we have done what has never been done in France: we denounced the 134 historic collective agreements, which have simply been replaced through two agreements - an agreement for the pilots, an agreement for the hostesses and stewarts -. We have revised all the conditions of remuneration, all the conditions of use.

"Until now", no dry layoffs, says Pascal de Izaguirre.

"We have a collective break-up, an outsourcing. When we talk about restructuring, we are not referring to the social aspect. We are referring to the fleet aspect since we have maintained the firm order for 5 aircraft 9 A330 900 NEO including the three first will arrive in April, May, June 2021. "

A vital agreement

Without this agreement, assures the CEO, the company would "not have been able to continue operating", even if until then it had managed alone.

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"Until now, we had not had one euro of state aid, one euro of bank financing and despite everything, we are still there and we continue to operate our flights. So we managed well, we has a good level of sales. But anyway, let's be clear: the crisis is of such magnitude and of such gravity that no airline can get by without help. Look at the biggest companies. They are all dependent on state aid, "concludes Pascal de Izaguirre.