Blue Air Romania
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
Sealed bids will be opened tomorrow - 17 May
Join Date: Jan 2008
Location: Switzerland ... oh wait: Swaziland
Posts: 798
Likes: 0
Received 0 Likes
on
0 Posts
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.
.. but look at previous carriers who have downsized to reduce losses!
Join Date: Jul 2011
Location: Europe
Posts: 57
Likes: 0
Received 0 Likes
on
0 Posts
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.
Blue Air Airline Management Solutions is the new company that took over flight operations, at the moment there are no disruptions to flight operations.
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.
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.
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.
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.
Last edited by davidjohnson6; 20th Jan 2014 at 16:42.
Join Date: Nov 2001
Location: London Whipsnade Wildlife Park
Posts: 5,038
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Jul 2011
Location: Europe
Posts: 57
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
Join Date: Jul 2006
Location: 2 DME
Age: 54
Posts: 241
Likes: 0
Received 0 Likes
on
0 Posts
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?
More flights from Iasi, according to Airline Route:
This comes in addition to new flights for S16 from LTN to Turin and Larnaca
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
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
Connections!
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)
Catania (Via Bucharest)
Athens (Turin)
Ibiza (Turin)
Lamezia Terme (Turin)
Madrid (Turin)
Mahon (Turin)
Palma (Turin)
Rome (Bucharest)
