Negotiations started at the end of 2018 and the transfer papers were signed on December 12, 2018. Subsequently, Zeitfracht fulfilled all procedures stipulated by the German legislation with respect to purchases of participations in foreign companies. The procedures were completed at the beginning of February 2019.
Boasting experience in aviation, logistics, investments and consulting, Zeitfracht is a family business that goes back more than 70 years.
Established in 2004, Blue Air has carried more than 26 million passengers during 14 years of activity, of whom more than 5 million passengers in 2018.
The shareholding structure of Blue Air Aviation has recently undergone a series of changes. Two of the four entrepreneurs who had relaunched the Blue Air brand after acquiring the business from businessman Nelu Iordache exited the airline’s shareholding structure. Thus, Luciana Paunescu and Tudor Constantinescu sold their shares to Marius Puiu and Teodor Cristian Rada, according to data from the Official Journal.