Blue Air low-cost carrier, controlled bybusinessman Nelu Iordache, has had the ruling that had it enteringinsolvency proceedings, published by the Bucharest Court of Lawseveral days ago, suspended, according to the data provided by thecompany's officials.
"The Court of Appeal's decision is thus correcting the legalerror of the Bucharest Court of Law. We've managed to prove tolegal courts there is no reason Blue Air should enter insolvencyand that our company is not facing any economic threat," said thecompany's officials, adding the negative image campaign launchedagainst Blue Air will thus be halted.
The cancellation of the decision related to insolvency means BlueAir will continue to operate independently, without the aid of alegal administrator.
"We will continue to operate our flights as scheduled, we willcontinue our strategies and development plans," the company'sofficials said.
Blue Air in August embarked upon a restructuring process, part ofwhich it returned four of the 11 aircraft it operated under aleasing contract, dropped domestic flights and laid off some of itsemployees.
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