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 tourism minister Elena Udrea is to be released on parole from Târgșor Prison on Thursday, July 17, following a final decision issued by the Prahova Tribunal. The court rejected an appeal filed by the anti-corruption prosecutors (DNA Ploiești), who had challenged a previous ruling by the Ploiești Court approving Udrea’s conditional release,
The George Enescu International Festival returns to Sibiu from September 2 to 21 with a lineup featuring Grammy-winning artists and top orchestras. Under the theme “Anniversaries,” the event marks 70 years since the death of George Enescu and celebrates milestones in the history of composers and ensembles that have shaped musical modernism. Sibiu will host […]
City Grill Group, the leading Romanian player in the hospitality industry, is launching “Mixtură de Lăutărie,” an original musical concept that brings to its restaurants a sound experience unlike anything seen before in HoReCa: live music based on traditional Romanian melodies, reinterpreted and mixed in real time by a DJ. The format has been created […]
More than two-thirds (68.6%) of Romanians living abroad do not have any form of insurance in Romania, not even the mandatory home insurance, according to a nationwide online survey initiated by Allianz-Țiriac. From among those who left the country, a quarter say they own a house or apartment in the country, and approximately 13% still […]
Arizona will become the first US state to open an economic representative office in Romania, following a decision by the state legislature to allocate USD 125,000 in its fiscal year 2026 budget for the establishment of the office in Bucharest. The new office will support trade and economic cooperation and will also cover Eastern Europe […]
Etihad Airways, the national airline of the United Arab Emirates, is opening 7 new routes, including one from Bucharest. The new flights will directly connect the Romanian capital with Abu Dhabi, starting from March 16, 2026, with flights set to take place four times per week. In addition to Bucharest, the airline is introducing flights […]
