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.

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