Carpatair Gains Insolvency Protection

Carpatair has obtained protection under Romania’s insolvency law in order to commence a process of reorganisation. The airline said the decision was prompted by significant damages it was owed - currently estimated at over €30m - resulting from the “anticompetitive behaviour” of Timisoara Airport, Carpatair’s main base between 2000 and 2013. Carpatair, led by president & CEO Nicolae Petrov, will continue with normal commercial activity during the reorganisation, with a downsized flight schedule for the remainder of the less-profitable winter season. The restructure will be supervised by a court-appointed administrator.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish