Restructuring in a crisis and in a position of strength: Practical illustrations from the tourism industry

Abstract

In this interview, Dr. Peter Fankhauser reflects on the challenges and lessons learned of restructuring in a crisis as well as in a position of strength that he experienced in the tourism industry. He explains that restructuring involves the financial, operational, and strategic dimension. In a crisis, however, the main focus is first on the financial restructuring given the alarming time constraints and risk to go bankrupt. Restructuring a company in a position of strength may be easier with regard to transparency in figures. Nevertheless, it proves to be challenging to get everyone on board and also here, communication is key. Dr. Fankhauser illustrates these and more insights with practical examples. © 2010 Gabler Verlag | GWV Fachverlage GmbH, Wiesbaden.