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.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
