Bulgaria Air Debts To Sofia Airport Reach BGN 60 M

Business | March 13, 2017, Monday // 14:11
Bulgaria: Bulgaria Air Debts To Sofia Airport Reach BGN 60 M BGNES

Bulgaria Air’s debts to Sofia Airport continue to grow and, at present, amount to over BGN 59 M, reported Kapital Daily.

In August 2010, debts amounted to BGN 23 M. In the summer of 2016, the former director Hristo Shterionov announced that Bulgaria Air owes the airport BGN 47.2 M. Thus, it turns out that, instead of shrinking, the unpaid fees of the air carrier to Chimimport Group are increasing.

According to Sofia Airport Director Stanchev, there is a huge discrepancy between the record number of passengers passing through the airport annually and its bad financial results. The profit margin of the airport is between 4% and 5 % instead of 25-30%.

Last year, the state enterprise had revenues of BGN 131 M and a profit of BGN 9.6 M according to the latest accounting report. In 2015, the financial result was BGN 5.5 M, given revenues of BGN 118 M.

The director of Sofia Airport announced that there are problems with security, the public procurement orders of the airport and the overloading of the terminals.

As soon as Stanhev occupied the post, he ordered an analysis of the current concession procedure to be drafted by outside experts. According to the concession conditions, offers by candidate investors will be accepted until the end of May.

The analysis must be ready in two weeks, and the Transport Minister and the government must make a decision on the basis of the analysis.

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Tags: Bulgaria Air, Sofia Airport, debts, Chimimport, passengers, terminals, concession, analysis
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