The debt recovery agency Air Claim, which specializes in helping customers of airlines recover their money, asked in court for the insolvency of low-cost carrier Blue Air – now 75% controlled by the Government. The pre-insolvency period for the company ended on February 22.

The court did not yet approve the request filed by Air Claim, according to Economica.net.

The Romanian state took over 75% of the shares of low-cost airline Blue Air last December, following the airline's failure to repay a EUR 60 mln state aid extended by Eximbank and guaranteed by the state.

Blue Air's debts soared to EUR 230 mln in September 2022 from EUR 120 mln (including the EUR 60 mln rescue loan) in the summer of 2021.

andrei@romania-insider.com

(Photo source: Anton Volynets/Dreamstime.com)