Bankruptcy and restructuring firm Infinexa has opened bankruptcy proceedings for Blue Air Aviation, following the low-cost airline's failed efforts to attract an investor, the judicial administrator said."A series of uncertainties had piled up that generated continuous loss and action was necessary to keep it in check. Bankruptcy is the fairest solution to protect the interests of creditors in the current context, and is intended to maximize debt-recovery chances," said Radu Tudor, senior partner with Blue Air's judicial administrator, as cited in the statement.According to the cited source, while Blue Air was in the monitoring period, the company's representatives and the State Assets Management Authority - which holds 75% of Blue Air's stake - had talks with potential strategic investors, but no agreement was reached on a capital contribution to allow the implementation of the reorganization plan.Under these circumstances, on June 2, 2025 the General Assembly of Blue Air Creditors approved the proposal of the judicial administrator to declare the company bankrupt, considering that this is the best solution to protect the interests of all parties involved.Bankruptcy provides the appropriate legal framework for capitalizing on the company's assets and for covering salary and budgetary claims (the Finance Ministry and the National Tax Administration Authority), allowing the correct distribution of the funds obtained to all entitled creditors, according to the law.Blue Air entered insolvency on March 22, 2023. The company entered the state's property, after the guarantee for the state aid received during the pandemic was executed.Infinexa is a Romanian entrepreneurial company that specializes in the restructuring and financing of companies in difficulty. Founded in 2022, it manages assets worth over 200 million euros and judicially administers companies such as Blue Air, Vivre Deco, Hidroconstructia, Angst.
Romanian director Cristian Mungiu will be part of the jury that will judge the films in the main competition of this year’s Venice Film Festival - Venezia 82. The jury, headed by American director Alexander Payne, includes French director and screenwriter Stéphane Brizé, Italian director and screenwriter Maura Delpero, Iranian director and writer Mohammad Rasoulof, Brazilian actress, writer, and […]
Romania continues to face significant prison overcrowding, according to the Council of Europe’s latest data, released on Friday, July 18. The 2024 Annual Penal Statistics on Prison Populations (SPACE I) show that Romania is among six countries in Europe with severe overcrowding, housing 116 inmates for every 100 available places. The report, which...
Chris Hemsworth returns to Disney+ in August with a new season of the National Geographic documentary series Limitless, this time focused not just on longevity, but on discovering how to live better. Titled Limitless: Live Better Now, the three-part season follows Hemsworth through physical, emotional, and mental challenges across six countries, with one standout episode […]
The Black Sea 200 Regatta 2025, Romania’s first non-stop offshore regatta with a 200 nautical mile route, takes place between July 21 and 27. Now in its first edition, the event brings together more than 10 boats from Romania and Bulgaria, according to the organizers. The endurance course will start and finish in the Romanian […]
The National Environmental Guard has fined an illegally operating zoo in Dâmbovița county, southern Romania, a total of RON 120,000 following a joint inspection that uncovered serious violations, including the lack of environmental authorization and inadequate conditions for wild animals kept in captivity. The zoo was reportedly charging RON 50 per person for entry and […]
The National Cybersecurity Directorate (DNSC) and engineering company Enevo Group have signed a strategic cooperation agreement to strengthen cybersecurity in Romania’s energy sector. The partnership aims to test and develop monitoring and alerting technologies for cyberattacks, and to improve national response coordination to incidents affecting critical infrastructure, the companies said. The agreement focuses on sharing […]
