The Romanian low-cost airline had to register bankruptcy protection under local law. KPMG was appointed as administrator by the court.

The former Zeitfracht stake Blue Air is bankrupt. The carrier has filed for bankruptcy protection under Romanian law while hoping to receive government aid. The company announced that due to the corona pandemic, it has so far written a loss of around 100 million euros.

“At Blue Air we are determined to meet all of our commitments and pay all of our debts. We count on the support of our partners and on the trust and mutual respect that have developed over the years of cooperation, and we will take all necessary steps to continue to act according to the highest standards ”, said Oana Petrescu in a Broadcast.

The competent court appointed KPMG as the administrator. Blue Air now has 60 days to draw up a recovery plan and negotiate with the creditors. According to Romanian law, 75 percent approval is required for acceptance. The carrier had to struggle with massive problems even before the Corona crisis. The fleet was massively reduced in the autumn of the previous year and currently consists of one Boeing 737-300, one 737-400, five 737-500 and nine 737-800.