Банкеръ Weekly

Briefs

FAILED BIDDERS FOR HEMUS AIR DISPUTE PA DECISION

The Albanian Airlines and Leasing Company, which failed in the bidding for the purchase of a majority stake of Hemus Air, will appeal the decision of the Privatisation Agency (PA). This occurred after the PA decided to negotiate with Pirin Tourist on 51 per cent of the shares of the state air company, Pari Daily announced.
Both companies insist on a meeting with the management of the PA in order to be notified about the reasons for removing them. Leasing Company rejected the statement of Levon Hampartsoumyan, Executive Director of the PA, that the price offered by Pirin Tourist was the highest. According to sources, close to the negotiations, Pirin Tourist proposed the lowest price. The Albanian Airlines note that according to agreement with the PA, that the carrier had to register a company before negotiations for Hemus Air start. Both companies demand the PA to give publicity of the offers of the candidate-buyers.
Albanian Airlines wanted to register in Sofia a company fully Albanian owned, sources from the PA stated. This contradicts to the international accords, which require each air carrier performing flights under international agreements to register a local company in the country it operates in.

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