USD 10 M FOR BALKAN AIRLINES

Business | June 6, 2001, Wednesday // 00:00

The government has allocated BGN 10 M for financial rehabilitation and aid of Balkan Airlines, which is declared insolvent, Pari Daily said. The money has been directed for launching regular flights to new destinations and for leasing new planes. Ralitsa Topchieva, trustee in bankruptcy of the company denounced this information. Some $ 500,000 is required as guarantee in order to lease one French plane ATR whether the guarantee for a Boeing costs by $ 100,000 more. The Kuweiti Fund for Arab Economic Development, which finances the project for construction of new tracks at Sofia airport, is interested to buy the national air carrier.

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