Blue Air, the Romanian airline, has officially filed for bankruptcy.
In a significant development, Blue Air Aviation S.A., the Romanian airline, has filed for bankruptcy. This decision was approved by the airline's creditors following a series of mounting losses and an unsuccessful search for a strategic investor.
Infinexa, a Romanian company specialising in restructuring and financing distressed businesses, has been appointed as the judicial administrator. The company announced the bankruptcy decision and has initiated a restructuring plan for Blue Air Aviation S.A.
The restructuring plan aims to reduce operational costs and potentially sell some of the airline's assets. This plan will be presented to Blue Air Aviation S.A.'s creditors for approval. The successful implementation of this plan could potentially save the airline from liquidation.
The Romanian government has expressed its support for Blue Air Aviation S.A.'s restructuring efforts. Infinexa is working closely with the government to ensure a smooth restructuring process.
Infinexa is also seeking potential investors to inject capital into Blue Air Aviation S.A. During the insolvency negotiations, the airline sought a potential buyer, but the specific buyer they were seeking is not detailed in the provided search results.
The article discusses further details about Blue Air Aviation S.A.'s bankruptcy proceedings. It is important to note that this article is available for Romania Insider members or signed-in users.
The bankruptcy of Blue Air Aviation S.A. marks a significant event in the Romanian aviation industry. The airline's creditors, the government, and potential investors will closely watch the restructuring process to ensure a successful outcome for the company.
