Romanian tax agency seizes Blue Air aircraft

Romanian private airline Blue Air moved one step closer to insolvency after the tax collection agency (ANAF) seized one of its aircraft, a Boeing 737-500 located at Bacau airport, Profit.ro reported.

The company owes RON 14.4 mln to the central government budget, RON 36.6 mln to the social security budget, and RON 12.2 mln to the public health system’s budget - a total of RON 63.2 mln (EUR 13 mln).

Another aircraft previously operated by Blue Air, now parked at Cluj-Napoca airport, was also seized, but the company says that it is actually owned by the leasing company Air Lease Corporation and the tax agency’s actions are “an abuse.”

A third aircraft, also a Boeing 737-500 owned by Blue Air, is parked at the airport of Forli (Italy). It is not yet known whether this plane, whose owner is Blue Air, has been seized by the tax agency.

The company suspended flights at the beginning of September and failed to resume operations in October, hoping to find a strategic investor. On October 11, the company’s representatives claimed that the investors had already “accepted all the conditions.” The deal pends the permit from the state.

The state is currently paying back a EUR 60 mln rescue loan extended to the company to help it recover after the lockdown. With most of its fleet already returned to the leasing company, it is not much the Government can recover, or the investor sees value as an investment target.

Wizz Air but also Moldovan operator HiSky have already replaced Blue Air on some routes. 

andrei@romania-insider.com

(Photo source: Richair/Dreamstime.com)

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Romanian tax agency seizes Blue Air aircraft

Romanian private airline Blue Air moved one step closer to insolvency after the tax collection agency (ANAF) seized one of its aircraft, a Boeing 737-500 located at Bacau airport, Profit.ro reported.

The company owes RON 14.4 mln to the central government budget, RON 36.6 mln to the social security budget, and RON 12.2 mln to the public health system’s budget - a total of RON 63.2 mln (EUR 13 mln).

Another aircraft previously operated by Blue Air, now parked at Cluj-Napoca airport, was also seized, but the company says that it is actually owned by the leasing company Air Lease Corporation and the tax agency’s actions are “an abuse.”

A third aircraft, also a Boeing 737-500 owned by Blue Air, is parked at the airport of Forli (Italy). It is not yet known whether this plane, whose owner is Blue Air, has been seized by the tax agency.

The company suspended flights at the beginning of September and failed to resume operations in October, hoping to find a strategic investor. On October 11, the company’s representatives claimed that the investors had already “accepted all the conditions.” The deal pends the permit from the state.

The state is currently paying back a EUR 60 mln rescue loan extended to the company to help it recover after the lockdown. With most of its fleet already returned to the leasing company, it is not much the Government can recover, or the investor sees value as an investment target.

Wizz Air but also Moldovan operator HiSky have already replaced Blue Air on some routes. 

andrei@romania-insider.com

(Photo source: Richair/Dreamstime.com)

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