FOREIGN INVESTORS WILL NOT FUND FLAG CARRIER'S REHABILITATION

Business | December 12, 2001, Wednesday // 00:00

National Carrier “Balkan” rehabilitation plan will be carried out without foreign investors, Todor Simeonov, president of the Pilots Union said on December 12. After the company’s stabilization it will be sold to a foreign buyer. Balkan’s debts amount to BGN 164 M, its assets are set at the same figure. Victor Malamed, spokesman of Balkan airlines, said that many companies have shown interest in the National Carrier, but he did not elaborate. According to him Balkan planes currently fly on thirteen destinations but some of them have been frozen for the winter season.

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