Aviapartners COO Heath White exits as company restructures
05 / 03 / 2009
ACCORDING to sources Aviapartner is simplifying its management structure, which will involve scrapping the chief operating officer (COO) position completely.
Each country manager will now report directly to the chief executive officer. It is believed that cargo will no longer run as a separate business unit.
Not wishing to take a step backwards in his career, and with no suitable equivalent role to step into, Heath White (above) – the current COO – chose to leave as of Tuesday 3 March.
The restructuring is part of a wider strategy that Aviapartner is undertaking with its primary shareholder 3i and other stakeholders. Sources reveal that 3i has agreed to refinace Aviapartner’s €250 million debt as well as providing €35 million liquidity “to fund future investments and measures to adapt the group’s operations to the reduced volume levels in the sector.”
“This may well bring a change in policy at Aviapartner, which had previously been chasing market share and volume at unsustainable rates,” said the source.
The company is now believed to be only pursuing contracts that will make a profit on a stand-alone basis.