The Bucharest Municipal Court admitted the airline’s request on March 21, as per the official announcement on the court’s website, quoted by Ziarul Financiar (ZF) daily.
“The request of debtor BLUE AIR AVIATION SA has been accepted. On the basis of article 71, paragraph 1, of Law no.85/2014 regarding the insolvency prevention proceedings and insolvency proceedings, it opens the general proceedings against debtor BLUE AIR AVIATION SA”, the data also shows.
The Court ordered the connection of the file no. 6050/3/2023, through which Air Claim, a company that makes easier for passengers whose flights were canceled or delayed to receive damage claim payments, had requested in court the insolvency of Blue Air. Air Claim said it must recover almost EUR85,000 from Blue Air.
The list of creditors include, among others, ROMATSA, BALADEI THIRDWAY TRANSPORT SRL through judicial liquidator Alpha Insolvency IPURL, ALC B378 43309 LLC, BLUE AIR TECHNIC SRL, AIR CLAIM SA, AEROPORTUL INTERNATIONAL AVRAM IANCU CLUJ R.A, as well as several private individuals, according to the same source.
Starting September 6, 2022, Blue Air canceled all flights, thus losing airport slots. In September 2022, the airline amassed EUR230 million worth of debts which did not include the amount of money the airline company had to pay back to the customers whose flights had been canceled starting September 6, 2022.
At the end of 2022, the Romanian State, through the Authority for State Assets Management, took over a 75% stake in Blue Air, pledged as collateral for a government-guaranteed RON300 million loan that the airline received in 2020. The airline did not pay a single instalment of the loan it got from state-owned EximBank, so the Romanian government has been paying instead since November 2021.