The court appointed Rovigo SPRL as the state company’s temporary judicial liquidator.
Romavia was set up in 1991 under the authority of the Ministry of Defense and operated domestic and international passenger and cargo flights, air mail delivery and transported public officials.
In time, the company’s commercial and special flights operations became scarcer and scarcer as the Romanian civil aviation authority suspended its airline license over lack of money to lease aircrafts.
Romavia had a turnover of RON1.9 million and a loss of RON7.2 million in 2013, while its debts amounted to RON70.6 million.
In its letter of intent to the International Monetary Fund in February, the government pledged to start insolvency procedures for Romavia in the third quarter of the year.
Romavia’s Boeing 707-3K1C, known as the Romanian Air Force One, used by all the country’s heads of state starting with late communist dictator Nicolae Ceausescu, was sold in 2012 for EUR2 million. At the time of its sale, the aircraft was banned from EU airports for exceeding noise limits.
Following political disputes, Romania does not have an official aircraft at this time.