Blue Air Romania

[Towerman]

2 aircraft repossessed in the last week :{

[IB4138]

The airline is restructuring and has cut all domestic flights and reduced capacity by about a third.

per ZF English on 2 Sept 2010:

Sherif Ussama, the general manager of Blue Air low-cost airline, is getting ready to lay off pilots and flight attendants, after having cancelled all domestic flights and cutting flight capacities by 33%, to the end of "boosting profit".
"The 1.5m-euro profit level of last year cannot be considered as encouraging. I hope that in the wake of all the steps we've taken profit will go up. The crisis is strong and we must adapt to the market situation, as everybody is suffering during this crisis period," stated Sherif Ussama, 37, who took over the company's reins this year.
"The aircraft fleet restructuring will be followed by flight personnel layoffs. For the time being, I cannot specify how many people will leave the company," said Ussama.
Blue Air has 780 employees at present, of whom 107 are pilots and 153 flight attendants, according to the latest data. Should the company decide to make one third of employees redundant, 35 pilots and 50 flight attendants are likely to leave, according to ZF estimates.
"We will downwardly revise passenger and turnover targets in the wake of restructuring steps. The second half does not seem promising, we will have an estimate after completing the restructuring plan," Ussama said.

[Towerman]

The restructuring plan was not workable and most lessors have rejected it.

[OLNEY 1 BRAVO]

I believe a further aircraft was detained at Luton late last night.

[IB4138]

Towerman, given your occupation, you or your employer obviously have a vested interest here and are simply putting your views in an attempt to sway others. Certainly you are quickly in the know on this one...too quick one could say.

Could you be connected to the lessor who has not accepted the restructuring ?

[Towerman]

IB4138 - Let me state quite openly and truthfully that NO, I am not connected to any Lessor. I am an Industry Professional that finds oneself advising many sectors of the industry and this includes airline bankruptcy and related issues. I do not state views or opinions on this forum, only facts.

[dublindispatch]

Flt from BBU-DUB still showing on the Dublin Airport arrivals!

[Coquelet]

Blue Air fly PSR-CRL-PSR on behalf of Flyonair, on friday and sunday during the summer. The flight is advetised as nearly 3 hours late today, but is it flown by Blue Air or by a substitute, I don't know.

[ericlday]

JOR131 From Bucharest-Baneasa to Luton Landed 17:20

[TBSC]

1-1 aircraft seized in LTN and BVA last week. Blue Air announced fleet cuts from 11 to 6 by October. All domestic flights cancelled and 2 bases (Larnaca and Sibiu) closed. First aircraft (B738 YR-BIF) already ferried to SNN yesterday on return to lessor. A Jetran Air MD-82 and a Medallion Air MD-83 are flying for them now.

[airman13]

Blueair has to pay to Carpatair 90.000 euros.........Decebal Hotel in Bacau Romania, has been waiting since last year the rooms bill to be paid by Blueair, Baneasa Airport in Bucharest too...........so ....not good point for them.........

[500 above]

Todays '538 to LCA has been delayed from 1215 to 2000...

[EC-ILS]

Yesterdays DUB flight was operated with a MD. Anyone know who owns that?

[compton3bravo]

It was either operated by a Medallion Air or Jetran International Airways who both use MD-80s as these aircraft have apparently been into Luton recentlyon Blue Air services.

[dublindispatch]

YR-MDS is planned to be in and out of DUB

[Buster the Bear]

737 BIB rumoured to be in store at Lasham?

[IB4138]

YR-BIB was in PRG just over 2 hours ago.

I think you will find YR-BID is at Lasham, returned to ILFC on 04.09.10. and YR-BIF is in Shannon. That is why the two MDs are operating at the moment, covering these two aircraft, until the end of the summer season in October, when fleet reduction is planned.

[TBSC]

Last 3 NGs (YR-BIA/-BIB/-BIC) had been released and ferried to SNN, their fleet now consist 6 B737 Classics.

[TBSC]

Owner of Romanian low cost airline Blue Air, nicknamed Asphalt King, arrested for 29 days | Daily news in English from Romania - Romania-Insider.com (http://www.romania-insider.com/owner-of-romanian-low-cost-airline-blue-air-nicknamed-asphalt-king-arrested-for-29-days/70459/)

[davidjohnson6]

Airline reported to be up for sale as parent company is undergoing insolvency troubles.

With owner in jail and parent company insolvent, Romania?s low cost airline Blue Air is up for sale (http://www.romania-insider.com/with-owner-in-jail-and-parent-company-insolvent-romanias-low-cost-airline-blue-air-is-up-for-sale/79681/)

[TBSC]

Blue Air returned 2 aircraft to the lessor in April which means that the airline is down to 6 aircraft (average age 21 years).

[davidjohnson6]

12 companies showed an interest in buying Blue Air, 9 were deemed eligible, 3 went to final stage and 2 have submitted final sealed bids today.
Sealed bids will be opened tomorrow - 17 May

[TBSC]

Blue Air will eventually be sold to Airline Management Solutions, a belgian registered company which is connected to Maxitours. The company is in fact 100% owned by 4 romanian citizens who work for Blue Air so it seems that the airline is being sold to a group of its employees. The winner offered 1.5 million EUR cash payment (and is obliged to have a bank quarantee for another 5 mio). Blue Air's current debt is 28 million EUR.

[Jack1985]

How long until shutdown?

[davidjohnson6]

Jack - ever thought of being optimistic occasionally ? :-)

[Jack1985]

Jack - ever thought of being optimistic occasionally ? :-)

Always am :).. but look at previous carriers who have downsized to reduce losses!

[EI-DAC]

Blueair is in bankruptcy, it is estimated that has more than 3,200 creditors.

Blue Air Airline Management Solutions is the new company that took over flight operations, at the moment there are no disruptions to flight operations.

[runway08]

Airlines are bizarre, Didnt they just acquire 2 737s from Turkey at the end of December or am I mistaken. Why bother in such a financial mess.

[ATNotts]

Airlines are bizarre, Didnt they just acquire 2 737s from Turkey at the end of December or am I mistaken. Why bother in such a financial mess.

No, businesses generally can also be "bizarre" - airlines aren't anything special.

Business owners tend not to see the wood for the trees when they are on a one-way trip to insolvency, and generally think they are clever enough to dig their companies out of the most dire situations, which are usually cash flow related. They carry on raising capital and spending on equipment in the forlorn hope that their latest "cunning plan" will finally dig themselves out of the brown smelly stuff.

They then go bust, leaving a trail of debt and unpaid salaries, only to set up the next day under a different name, but with the same flawed business plans, as though nothing had happened. The airline industry is littered with such examples - as are many other sectors.

What never ceases to surprise me is the way in which the "glamour" of investing in airlines seem often to cloud normally cautious bankers judgment into making really quite risky investments into dead ducks.

[Buster the Bear]

Web site still taking bookings. Where did this info come from?

[davidjohnson6]

The airline was sold last year by company A and acquired by company B aling with the brand name.
Has the airline or company B declared bankruptcy or just company A which happens to have a similiar name but no longer has ownership or control of the airline ?

Buster - Google news will throw up an article in Romania Libera from 08 Jan - albeit in Romanian.
It should be noted that for a while, the airline's finances are rumoured to be not as robust as some other carriers. It is certainly an interesting question as to whether Romania needs Tarom, Wizzair and Blue Air all having substantial operations in the country and Bucharest-centric aircraft as well as Timisoara based Carpatair.

[Buster the Bear]

Blue Air Transport air, Bata renamed Sky Real Estate SA, entered into bankruptcy. Girgiu Court set the hearing on December 17, 2013 until the end of January to record the statements of claim so until 02/28/2014 to draw up the final table of the claims.

See this Court's decision Giurgiu: File 2696/122/2013

Read: New Blue Air will business owners biggest airline operator and fleet growth

Blue Air belongs to businessman Nelu Iordache, convicted in the first instance, to prison for embezzlement (6 million euros) to build the first section of motorway Arad-Nădlac-Portuguese Romanian association awarded Romstrade-MonteAdriano.

Read: Blue Air has reached sales

Iordache, called "King of asphalt" is the owner Romstrade, one of the largest construction companies in Romania, the company entered into insolvency proceedings.

"Blue Air is out of work, only a few assets and debts paid. Currently we are in the process of asset inventory. These are to be sold to be covered liabilities" specified for Romania Libera, Emil Gros, associate coordinator of the Expert Insolvency firm appointed liquidator in case Bata Sky Real Estate.

Gros said that now nobody knows the number of those who enrolled in the list of creditors, but that from experience, the majority falls on the last day (not.I red. 31. 01.2014, according to the decision of the Court Giurgiu).

Read: A firm registered in Romania last month took over operations of Blue Air

He said the majority shareholder of the company is Romstrade company controlled by Nelu Iordache.

Blue Air was established in 2004, the first Romanian airline with 100% private capital. This was the first low cost airline in the country.

In 2007, Blue Air reached a record 1 million reservations.

Blue Air brand was taken over by the company Blue Air Airline Management Solutions, a company that still operates flights under this brand.

[EI-DAC]

First italian domestic route for Blue Air: TRN-CTA 6xw effective nov 3rd.

TRN is announced as a new operative base of BMS, new routes to be announced soon. BMS currently fly from Cuneo to OTP and BCM.

[AndyH52]

Blue Air website now showing Liverpool - Bacau twice weekly from 29/3/15.presumably a sign that the Bucharest route which doesn't start until December, is selling well?

[LGS6753]

More flights from Iasi, according to Airline Route:

Romanian carrier Blue Air in summer 2016 season plans to add new routes from Iasi, with service launch to Barcelona, Brussels and Cologne.
eff 27MAR16 Iasi – Barcelona 2 weekly
0B6807 IAS0700 – 0935BCN 734 27
0B6808 BCN1120 – 1545IAS 734 27
eff 30MAR16 Iasi – Brussels 2 weekly
0B6823 IAS0930 – 1125BRU 734 36
0B6824 BRU1210 – 1600IAS 734 36
eff 03JUN16 Iasi – Cologne 2 weekly
0B6821 IAS0700 – 0845CGN 734 1
0B6821 IAS1700 – 1845CGN 734 5
0B6822 CGN0930 – 1300IAS 734 1
0B6822 CGN1930 – 2300IAS 734 5

This comes in addition to new flights for S16 from LTN to Turin and Larnaca

[LGS6753]

Blue Air are now showing connecting flights from LTN to:

Catania (Via Bucharest)
Athens (Turin)
Ibiza (Turin)
Lamezia Terme (Turin)
Madrid (Turin)
Mahon (Turin)
Palma (Turin)
Rome (Bucharest)

[davidjohnson6]

LGS - I'm sure London to Rome via Bucharest will sell well... ! :E

[ajamieson]

Not to mention Luton to Madrid via Turin, from Euro 170... :E

[italian stallion]

Hi everyone
I see Blue Air is employing. ..does anyone in the know have any information on salaries roster etc?

Many thanks

[harrison05]

Dear ALL,

Anybody can tell me what we can expect in the simulator test? I have the simulator test pretty soon. Thank you on advance!!