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Consortia to Be Allowed To Join the Bidding Process for Bulgaria Air

Consortia is to be allowed to join the bidding process for state-owned Bulgaria Air, according to Deputy Prime Minister Minister Nikolay Vassilev.

However, financial investors will not be allowed in the contest if at least four airline companies take part.

Candidate airlines will be required to have posted 100 million euros in revenues in aviation services, while financial investors will be eligible buyers if they manage over 200 million euros of assets.

Bulgaria wants to sell up to 100% of the flag carrier in a bid to inject cash into the recently-created company.

(NewsBase 06.viii.04)

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