Air Claim asks insolvency of Romanian state-controlled air carrier Blue Air

Air Claim, specializing in the recovery of fees and compensations from air companies cancelling their flights, is the first creditor that requested the opening of the insolvency proceedings against the Blue Air company, currently controlled by the Romanian state, according to a note submitted on March 2 to the Bucharest Stock Exchange (BVB) where Air Claim has its shares listed.

Air Claim still has EUR 85,000 to recover from the airline operator after the carrier reportedly made considerable payments, amicably or through forced execution, during the year 2022.

Air Claim informs that its results do not significantly depend on the situation of Blue Air, but it draws attention to the fact that if the respective amounts are not recovered, there will be potential revenues that remain unrealized (the difference between the value of the receivables and the acquisition cost).

Air Claim adds that it acted in court several operators for compensation requested by passengers, Blue Air not being the only or most important one. Thus, Air Claim assigned claims regarding TAROM, Wizz Air, Hisky and Air Bucharest.

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