The receivers of Balkan Airlines are ready with the revised program of the flag carrier, Pari Daily wrote. Within a few days Olga Milenkova and Hristo Mollov will present the program to the court again. On December 18, the draft of the rehabilitation program was returned by Court to be revised. The reason for this was that according to the program the creditors of the first eight classes had to be satisfied 100%, while the creditors of the lower classes had to be given 10% of their receivables. The court required that all creditors are fully satisfied. According to Milenkova, if the court rejects again the rehabilitation program, the company will be announced bankrupt. The program envisages Balkan Airlines' debts to be transformed into equity, which will restore the state's majority interest in the company. The national carrier's assets amount to BGN 190 M. The profit for the first year after the start of the program is planned to be USD 1 M.

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