Romania’s low cost airline Blue Air is up for sale

Deals

Romanian low cost airline Blue Air, owned by Nelu Iordache, who is currently under arrest for embezzling funds, will be up for sale. The company’s board was recently changed, and Iordache was suspended from his position. The new council – Rudolf Vizental, Adrian Ionascu as deputy general manager and Elenne Philip – decided to attract a new investor, said Vizental to local media. So far, six buyers have expressed interest in taking over Blue Air, a company which posted a turnover of €150 million in 2011, the Romania Insider reported.

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