In March of this year, the airline Blue Air requested a rescue loan in the form of a preferential interest loan granted in a major crisis situation.
Company representatives claim that, in order to maintain their activity, they need temporary financial support.
„In the current situation, to successfully navigate this period and continue serving our passengers and paying substantial amounts to the state budget, we need temporary support in the form of a credit that ensures Blue Air the liquidity necessary to maintain flight capacity and jobs during this difficult period. The rescue loan is not a non-reimbursable fund, but a preferential interest loan granted to a company in a major crisis situation,“ stated the airline’s representatives.
According to the cited source, the Blue Air team has built over the last 15 years the largest private capital company in the Romanian aviation industry, serving over 4 million passengers per year.
In the last 3 years, Blue Air has paid taxes, fees, and contributions to the Romanian state that have consistently exceeded 100 million RON/year, and after 3 years of massive investments in routes and slots at major European airports, the company became profitable in 2019.
Blue Air is IATA Operational Safety Audit (IOSA) certified by the International Air Transport Association (IATA) for exceptional operating standards and is a full IATA member.
Source: Economica
Frequently Asked Questions
What type of financial aid did Blue Air request?
Blue Air requested a rescue loan, which is a preferential interest loan intended to provide liquidity during a major crisis, rather than a non-reimbursable grant.
Why does Blue Air need this loan?
The airline needs the funds to maintain its flight capacity, preserve jobs, and continue its operations following the impact of the global crisis.
Is Blue Air a profitable company?
Yes, after three years of significant investment in European routes and slots, Blue Air reported becoming profitable in 2019.