Financing and support of employees of bankrupt companies in transport sector at municipal and state levels: national and international practice

Transport plays a major role in the socioeconomic development of countries. Efficient operation of transport enterprises is central to ensuring a country's competitiveness overall. Transport enterprises are a key instrument in the attainment of social and economic goals. The purpose of this paper is to analyse the national and international practice of financing and support of the employees of bankrupt transport companies at the municipal and national level. The paper highlights the relevance of financial support for the employees of bankrupt companies and analyses the issues of financial rehabilitation in the transport sector, as well as bankruptcy prevention instruments for transport enterprises, and international practice concerning the mechanisms of financial support of the employees of bankrupt companies. The paper offers a comparison of the country-specific aspects of financing and employee support in case of bankruptcy and outlines the conditions adopting such support in the transport sector at the municipal and national level