The Privatization Agency has selected Pirin Tourist as an exclusive buyer of Hemus Air, the only state owned airline company in Bulgaria. Other companies participating in tender as Sofia-based Leasing Company and Albanian Airlines were not short-listed. Albanian company was disqualified as the structure of its capital contradicts a number of international law acts in the area of civil aviation. The contract for the sale will be signed within the next 30 days. 90% of the price will be paid in compensatory notes and other 10% in cash, but no details on the price tag were announced so far. Pirin Tourist was registered April 27, 1994 as operating in the hotel and restaurant business, and trade with industrial and agricultural equipment. The partners in the company are Boyan Marinov, Dimiter Chobanov, Libero AD, and the Cyprus offshore company Overseas Ltd.