Carpatair founder: I don't think now's a good time to exit

Closely watching Western market demand, Nicolae Petrov, founder of Carpatair airline, decided to take a “hibernation” tactics in 2009, when Carpatair launched fewer new flights, closed loss-making operations and braced up for a decline, reads BUSINESS Magazin magazine. Last year’s figures do not look highly encouraging for Carpatair. Turnover and the number of passengers reverted to the 2006 level. But for Nicolae Petrov this is just another stage: 15 years ago, amid an at least unfavourable economic climate, the pilot started an airline, and ten years ago, when the fallout of the crisis Romania went through in the late ’90s was still being felt, Petrov launched Carpatair brand. It was not the first attempt at setting up a private airline in Romania and not his first attempt, either, but Carpatair was the only initiative that endured on the market. Now, Carpatair is ten years old and its founder still considers it a very good bet. So good, that Petrov is also mulling buying some stock from minority stakeholders. Thus, Carpatair founder is denying rumours about the sale of a stake in the company. Even under different conditions, Petrov believes the exit would still have to wait.