B&H Airlines May Have Found A New Owner

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B&H Airlines May Have Found A New Owner

September 8, 2015 - The Southeastern European country, Bosnia (officially know as Bosnia and Herzegovina) flagship air carrier, B&H Airlines may have a new owner after it has been grounded for aircraft maintenance issues and unable to pay on its dept.

Bosnia's Federal Ministry Transport and Communications, Denis Lasić said, "The German company MD Mitteldeutsche Tourismus Entwicklungsgesellschaft mbH is prepared to take over B&H Airlines, including the company's debts. Our aim is for B&H Airlines to keep its name and save jobs, as well as for the company to recover. We are on the right path to find a solution to this problem".

B&H Airlines had operated out of Sarajevo International Airport in Bosnia's capital city. Back in April 2013, the company had cancel flights due to due to maintenance issues on its only aircraft a ATR 72. The company had another ATR 72 but that had been pulled as well for maintenance. The company's dept began to build up, B&H Airlines had owed rental fees to the airport and to the aircraft finance leasing company. In June, Bosnia decided to liquidate the carrier.

Lasić said at that time "The best option would be for the airline to declare bankruptcy. They [B&H Airlines] have eaten up everything they had and now they are in a situation where they must redirect all state funding to HETA (Bosnian asset resolution company HETA)”. Back in June HETA rejected Bosnia's offer to pay back only 80% of loss about $8.6 million.

Lasić statement to file bankruptcy sent out the wrong message, that the state would not pay its dept. B&H Airlines owed the airport close to $4 million. The company's dept has ballooned to over $20 million. In July, B&H Airlines operator's certificate was revoked. Mandić said “I personally think we will come to a positive outcome which will be in favor of employees, as well as the passengers and citizens of

Bosnia and Herzegovina

”.