Банкеръ Weekly



The Hemus Air company reported a 23% growth of revenues for the third quarter of the current year compared to 2003. The managers of the company expect its revenues to go beyond BGN40MN for the whole 2004. Passengers who have travelled on its regular lines since January are up by 16% compared to the same period of 2003. There is a 20% increase on charter lines, too.Last week Hemus Air managers announced that two new destinations to Cairo and Koeln would be launched in mid-December. The move will raise the number of regular lines of the company to fourteen. Flights to the German town will be carried out on Monday and Thursday with the lowest two-way ticket price being EUR212. The cheapest ticket to Cairo will cost EUR250. Flights will be fulfilled every Wednesday.Hemus Air is planning to renovate its flying stock in the coming year. The old TU-134 and TU-154 M machines will be replaced by BAE 146-200 which are among the most silent ones in Europe. The company intends to buy three or four Boeing planes with an average age around 14 years. The company has two major short-term goals: to take part in the privatisation of the Bulgaria Air national carrier and to make Hemus Air a regional Balkans air company. The owners of the private carrier are negotiating with several Bulgarian financial institutions for possible joint participation in the privatisation of Bulgaria Air. But in order for us to choose a partner, the Parliament has to approve the privatisation strategy so that we can know all the requirements, Hemus Air Manager Dimitar Pavlov said. He added that the air company he ran had almost achieved its goal to become a regional carrier. We already fly to the bigger towns in the Balkans and we expect to start a line to Belgrade and a few other towns next year in order to close the circle, Mr. Pavlov explained.

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