Preliminary data show that the losses of the flag carrier Balkan for 2001 are over BGN 57 M, Balkan’s creditor Olga Milenkova announced. “ We are holding talks with Bulgarian banks for getting a loan amounting to USD 4 or 5 M, which will allow Balkan to lease two Boeing 737-300 from the German Lufthanza,” Milenkova explained. According to her the contract with Lufthanza will be concluded within a month. In the beginning of last week the Balkan creditors tabled to the Sofia City Court the new rehabilitation plan of the flag carrier. The plan envisages all the creditors of the company to be compensated. The rehabilitation plan also envisages Balkan to be managed by a Supervisory Board, in which seven representatives of all classes of creditors will participate. Consultative Board is to be set up, which will assist the governing body of the flag carrier. Jurists and economists will be members of the consultative body. According to the flag carrier’s creditors, by the end of the first year of the enactment of the rehabilitation plan, Balkan will have a profit of USD 1 M. At an extraordinary general meeting of the Balkan Airways’ shareholders on January 14 Ivan Minev was discharged from the position - member of the flag carrier’s Board of Directors, the Bulgarian National Radio reported. The Balkan press center pointed out that that initiative about the decision came from the majority owner “Zeevi group”.

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