The Romanian state takes over 75% of the shares in Blue Air

The Romanian state will take control of the airline Blue Air, the company said in a press release on Friday. Blue Air has called a general meeting of shareholders to “transferred ownership of 75% of its shares to the state“, says the press release.

In early September, the company announced it would halt all activity as it could not pay its suppliers and wreaked havoc on the 54,000 passengers affected.

Founded in 2004, Blue Air served many European destinations including Brussels and was the second largest airline in the country after Romania’s national airline Tarom.

Blue Air press release

Bucharest, November 18, 2022

Since we are requesting the execution of the guarantee for more than 13 months, as soon as we received the notification from the Ministry of Finance, the shareholders of Blue Air Aviation SA asked the Authority for the Administration of State Assets (AAAS) to present itself at the company’s general meeting to fulfill the guarantee obligation of the current shareholders and transfer ownership of 75% of the shares to the Romanian State Company via AAAS

Today, November 18, 2022, the Company’s shareholders were contacted by telephone by representatives of the AAAS requesting a meeting to finalize the technical details by which this handover would take place.

As soon as this legal process is completed, the company will publicly communicate the new shareholder structure. Of course, the company’s controlling shareholder will later decide how to publicly communicate the Blue Air situation.

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