According to its financial report, SIF1 Banat-Crisana bought 90 corporate bonds from Blue Air totaling RON43 million (EUR9 million) via private placement on December 16, 2019. the bonds mature on June 15, 2020.
The airline said this loan has nothing to do with the public issuance it is planning for September .
Blue Air CEO Oana Petrescu told Ziarul Financiar in an interview in October 2019 the company planned to list EUR50-60 million worth of bonds on the stock market in the fall of 2020.
Blue Air applied for a government rescue loan in March seeking to raise EUR45 million to navigate the coronations crisis as its regular commercial flights have been suspended.
In the financial year ended September 2019, Blue Air reported an operating profit of around EUR8 million compared with an operating loss of RON19 million the year before. Blue Air ended the financial year 2019 with a turnover of EUR390 million (net of passenger taxes, under IFRS).