Blue Air: We've proved the company is not facing any economic threat

15 oct 2010 Autor: Mirabela Tiron

Blue Air low-cost carrier, controlled by businessman Nelu Iordache, has had the ruling that had it entering insolvency proceedings, published by the Bucharest Court of Law several days ago, suspended, according to the data provided by the company's officials.

"The Court of Appeal's decision is thus correcting the legal error of the Bucharest Court of Law. We've managed to prove to legal courts there is no reason Blue Air should enter insolvency and that our company is not facing any economic threat," said the company's officials, adding the negative image campaign launched against Blue Air will thus be halted.
The cancellation of the decision related to insolvency means Blue Air will continue to operate independently, without the aid of a legal administrator.
"We will continue to operate our flights as scheduled, we will continue our strategies and development plans," the company's officials said.
Blue Air in August embarked upon a restructuring process, part of which it returned four of the 11 aircraft it operated under a leasing contract, dropped domestic flights and laid off some of its employees.