Blue Air: We are not currently in negotiations to sell

Nelu Iordache, the majority shareholder of low-cost airline operator Blue Air, says he is not engaged in talks to sell, and does not plan to attract any more shareholders. “We have drawn in the necessary funds for the acquisition of Boeing aircraft, after a capital increase worth 6 million euros was conducted by Romstrade and Gheorghe Racaru (the company’s general manager), which resulted in both parties receiving a 10% stake in Blue Air,” said Nelu Iordache, who now owns an 80% direct stake in Blue Air. Romstrade is a road and bridge construction company, also controlled by Iordache. Last year, the management of Blue Air had sales talks with Greek airline operator Aegean Airlines, while two years ago, similar negotiations were held with Hungarian airline operator Wizz Air. According to Iordache, the asking price for Blue Air, at the time, exceeded 30 million euros.