The Bucharest Tribunal has admitted the insolvency request of the airline Ten Airways, owned by businessman Ovidiu Tender.
The company began its activity in 2010, operating in charter and wet lease systems, a system that involves leasing the aircraft along with the crew and services to operate on behalf of another company.
Last year, businessman Ovidiu Tender announced the entry into the commercial flight segment, in partnership with the Fly Romania brand. Domestic and international scheduled flights were announced at that time from Bucharest, Timisoara, and Tulcea to cities in Italy, Spain, Germany, and Turkey, expecting approximately 100,000 passengers for 2014. However, the partnership was interrupted after only a few months due to unpaid debts of 400,000 EUR, claimed by Tender.
Frequently Asked Questions
What is Ten Airways?
Ten Airways is a Romanian airline owned by Ovidiu Tender, specializing in charter and wet lease operations.
Why did Ten Airways enter insolvency?
The Bucharest Tribunal approved the insolvency request following financial difficulties and a failed partnership with Fly Romania.
What happened to the partnership with Fly Romania?
The partnership ended after a few months due to unpaid debts of approximately 400,000 EUR claimed by the owner of Ten Airways.