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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Troubled Romanian air carrier plans real estate project

Romanian low-cost airline Blue Air plans to enter the real estate market through a large-sized project, Profit.ro announced.

For now, the investment is postponed due to the pandemic, according to Profit.ro. Blue Air has recently settled its financial problems prompted by the coronavirus crisis with a EUR 60 million state aid.

The project will encompass a training center, offices, a hotel, and a residential section. It will require an investment of over EUR 100 million, according to sources quoted by Profit.ro.

The project “is postponed [for better times], but not abandoned,” the sources say. It will be developed on a 9.4-hectare plot near the Baneasa Forest, in northern Bucharest.

The land, on which there is an acacia forest, is owned by a special purpose company, Blue Air Investiii. The plan is to develop buildings with mixed functions, and between 9 and 11 floors, after logging the forest. For now, the land is used as collateral for the EUR 60 mln loan contracted with state guarantees.

[email protected]

(Photo source: Facebook/Blue Air)

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

Troubled Romanian air carrier plans real estate project

Romanian low-cost airline Blue Air plans to enter the real estate market through a large-sized project, Profit.ro announced.

For now, the investment is postponed due to the pandemic, according to Profit.ro. Blue Air has recently settled its financial problems prompted by the coronavirus crisis with a EUR 60 million state aid.

The project will encompass a training center, offices, a hotel, and a residential section. It will require an investment of over EUR 100 million, according to sources quoted by Profit.ro.

The project “is postponed [for better times], but not abandoned,” the sources say. It will be developed on a 9.4-hectare plot near the Baneasa Forest, in northern Bucharest.

The land, on which there is an acacia forest, is owned by a special purpose company, Blue Air Investiii. The plan is to develop buildings with mixed functions, and between 9 and 11 floors, after logging the forest. For now, the land is used as collateral for the EUR 60 mln loan contracted with state guarantees.

[email protected]

(Photo source: Facebook/Blue Air)

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