Romanian Airline Blue Air Renounces Five Planes, Sacks 300 Employees

According to Racaru, a fifth plane was returned on September 15 and transport capacity decreased by 40%. He said Blue Air representatives met with plane distributors and explained to them that the company is facing financial problems.

Racaru said Blue Air will soon procure two planes with lower lease payments.

He highlighted that the airline’s turnover will be of EUR150 million in 2010, the same as last year, but 20% less than estimates made at the beginning of the year.

Early September, Blue Air representatives said the airline will not launch new routes this year and that the company will undergo a restructuring program. They also said the airline had renounced four planes and it would cancel a part of its flights.