“Following suspension of regular flights the company saw more than EUR80 million lower revenue than expected in March-May,” Blue Air CEO Oana Petrescu told ZF.
Due to the situation caused by the COVID-19 pandemic, Blue Air is now operating flights on demand to and from Ireland (Dublin) and charter flights to any destination, provided that the clients secure all the necessary travel approvals.
To minimize losses and ensure continued operation after the regular flights resume, Blue Air has renegotiated costs and rescheduled debts to suppliers and creditors – including employees, the tax authority ANAF and the authorities in the countries it operates in, Oana Petrescu added.
The airline also applied for a EUR45 million government loan two months ago and is now finalizing talks with the Transport Ministry and the Finance Ministry over the terms of the state aid. The aid should come as a governmental guarantee for a EUR60 million loan, according to the Temporary Framework of the European Commission. The loan will be used to offset the losses caused by the COVID-19 pandemic and repaid from the revenue generated by regular flights within six years, the Blue Air CEO said.
(English version by Loredana Fratila-Cristescu)