Банкеръ Weekly

Briefs

BALKAN AIRLINES RESUMED FLIGHTS

Balkan Airlines resumed flying at the beginning of May with a flight to London. A Tupolev Tu-154M aircraft of the company took off at 12:23 p.m. from the Sofia airport to the Heathrow airport. That is the only aircraft Balkan Airlines disposes with after it was grounded on February 14 this year. Twenty-nine passengers, most of them students, were on board.
During our recent talks in Israel with Gad Zeevi, who now owns 75 per cent of the shares in Balkan, he showed interest and did not object to the proposal of an European consortium to buy out the company shares and repay the debts to its creditors, Ralitsa Topchieva, one of Balkan's curators, told BTA. We did not hold negotiations but, in an intermediary capacity, set forth the proposals and the terms of the prospective investor, she added. The important thing is that Israel's Zeevi Group does not rule out this option, but it will be directly or indirectly negotiated between representatives of the two companies.
According to her a result of those negotiations could be expected before the end of this month.

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