Romanian airline Blue Air enters insolvency

Romanian low-cost airline Blue Air has voluntarily entered insolvency.

The Bucharest Court agreed to the company’s request on Tuesday, Hotnews reported.

Several names are on the list of creditors, including the Romanian Air Traffic Services Administration – ROMATSA, Air Claim, the Avram Iancu International Airport in Cluj, and several individuals.

Air Claim announced earlier this month that it had requested that insolvency proceedings nbe initiated against Blue Air, saying it still has 85,000 euros to recover from the airline.

Blue Air suspended flights in September and failed to resume operations. The company said at the time that it had been forced into the position after the environment ministry froze its bank accounts.

It had debts of 230 million euro  at the time excluding money it owed to clients for canceled flights, Ziarul Financiar reported Wednesday,

The Romanian state has taken over 75% of Blue Air’s shares, via the Authority for the Administration of State Assets (AAAS).

Romania to take majority stake in grounded Blue Air



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