Home Sweet Home: The Reality of Housing in Bulgaria Revealed
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
Financial grants compensating for part of the lost revenues would greatly support the Bulgarian airline industry. Airlines are in dire need of additional support, Svetoslav Stanulov, Chairman of the Management Board of the Association of Bulgarian Aviation Companies, told BNR. The association‘s members are about 80% of the Bulgarian companies and maintenance bases.
European airlines' revenues compared to last year were down by about 73%. For Bulgarian airlines, revenues from scheduled flights decreased by about 65%.
"Charter carriers revenues have dropped overwhelmingly. On an annual basis, maybe by 85-90%. They do not have any flights in the last 4-5 months. Zero," Stanlov pointed out, clarifying that this does not allow companies to cover their routine costs.
"All financial reserves have already been used. Airlines have additional specific costs that cannot be saved," Stanlov said.
Bulgarian airlines employ about 4,000–4,500 people. So far, very small proportion of them have been made redundant because they are highly qualified staff.
"The high costs are related to the maintenance of machines operational condition. Airlines pay for parking, for maintenance, which is mandatory even when planes are on the ground. In addition, they pay 40% of the salaries under the 60/40 measure plus the cost of pilots training," Stanulov added.
"It is very possible that mass bankruptcies will start", warned Svetoslav Stanlov. In his words, it is no coincidence that there are financial grants in Europe and the US. "As an example, 20-30% of the decreased revenues are subsidized by the state. We don't hope for it anymore, but without such help it's extremely difficult for all of us to cope at the moment," the expert said.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
The Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), together with the Bulgarian-Ukrainian Chamber of Industry and the support of the Bulgarian Chamber of Commerce and Industry
New data from the National Statistical Institute (NSI) sheds light on the housing landscape in Bulgaria, painting a picture of the majority of Bulgarians residing in older homes.
The economic landscape of the country is experiencing a dynamic shift as new hotels, restaurants, and technology startups emerge at an unprecedented rate
As the May holidays mark the onset of sea tourism, Bulgarians and foreigners preparing for their annual getaways are facing a stark reality: trips this year will come with a heftier price tag
Sofia, the vibrant capital of Bulgaria, is experiencing a surge in its economic landscape, surpassing the average European standard of living, according to senior researcher Peter Ganev from the Institute for Market Economics
Mounting uncertainty looms over Bulgaria's anticipated entry into the Eurozone, with officials cautioning that the prospect may be delayed amidst persisting inflation challenges
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022