Romanian airline Carpatair to undergo restructuring as part of insolvency procedures

Romania’s airline Carpatair will restructure its network under insolvency protection.

The airline said in a statement that it would be restructuring under the insolvency protection and would cut unprofitable routes from its network. Its winter schedule had been reviewed.

The carrier will continue to be managed by the present management team, under the supervision of an appointed insolvency administrator.

The airline, founded in 1999, has blamed EUR 30 million legal bills over a European Commission investigation into alleged uncompetitive practices at Timisoara airport for its insolvency, according to Mediafax newswire.

Started in 1999, and now owned by Swiss shareholders, the carrier operates one Boeing 737-300, two Fokker 100s and one Fokker 100 for subsidiary Moldavian Airlines, based in Chisinau.

It operates an European network to a number of regional and capital city airports, including London Luton.

Shaun Turton [email protected]

Romania Insider
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