The German group Zeitfracht, with operations in logistics, shipping, and real estate, as well as aviation, has acquired 10% of the shares of the low-cost airline Blue Air.
Since 2018, Blue Air has been the strategic partner of the Zeitfracht Group in the German market, where it operates in Hamburg, Cologne, Munich, and Stuttgart.
In the fall of 2017, the German group acquired WDL Aviation, which leases aircraft to companies such as Lufthansa, City Line, easyJet, Germanwings, Air France, British Airways, SAS, and KLM, after previously taking over the Leisure Cargo subsidiary from the bankrupt Air Berlin.
In the fall of last year, Blue Air purchased the national airline of the Republic of Moldova, Air Moldova, for 2.5 million EUR, while also taking over debts of 61.2 million EUR.
At this moment, control is held by Rada Cristian and Marius Puiu Mihail (CEO), both with 45% each.
The low-cost airline operates flights to over 100 routes in 16 countries, with 8 operational bases in Bucharest, Bacau, Cluj-Napoca, Constanta, Iasi, Larnaca, Liverpool, and Turin.
The company targets annual revenues of 400 million EUR and approximately 5 million passengers transported.
Source: Profit
Frequently Asked Questions
What percentage of Blue Air did Zeitfracht acquire?
The German group Zeitfracht acquired a 10% stake in the low-cost airline Blue Air.
Who are the main shareholders of Blue Air?
Control of the company is held by Rada Cristian and Marius Puiu Mihail, each owning 45% of the shares.
What other airline did Blue Air recently purchase?
In the fall of last year, Blue Air purchased Air Moldova, the national airline of the Republic of Moldova, for 2.5 million EUR.