Romanian travel agency Kusadasi announced that it sent the Bucharest Court a request for insolvency with the option of reorganizing its activity.

The company invited peer tour operators to take over the contracts and the payments in advance made to hotels abroad.

The owner of the company, founded in 1998, is the Yapici family. Kusadasi's owners also established Air Bucharest to operate the agency's charter flights to holiday destinations such as Turkey, Greece, Spain, Egypt and Dubai. 

Travel agency Kusadasi had a turnover of RON 6.8 million (EUR 1.36 million) last year and reported RON 1 million in losses, according to Ziarul Financiar.

It is the fifth Romanian travel agency to file for insolvency in the middle of the summer season in recent years.

iulian@romania-insider.com

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