Sofia-based air carrier Bulgarian Eagle – a wholly-owned unit of Germania – has filed a request with the Sofia City Court for launch of insolvency proceedings, reports claim.
As at 1 March, the company’s outstanding liabilities amounted to some 12.8 million levs (US$7.3 million), documents filed with the commercial register earlier this month showed.
Earlier this month, three companies from the Germania group – Germania Fluggesellschaft, Germania Technik Brandenburg and Germania Flugdienste filed for insolvency.
The German airline group said at the time that Swiss airline Germania Flug AG and Bulgarian Eagle were not affected.
Bulgarian Eagle was an aircraft-crew-maintenance-insurance (ACMI) carrier founded in 2016. It was a subsidiary of Germania and was founded to increase Germania’s presence in the wet-lease market. It operated two Airbus A319s with a Germania livery, with ‘Operated by Bulgarian Eagle’ on the fuselage.