B&H Airlines has temporarily suspended the sale of its Belgrade flights while its services to Copenhagen are still bookable, although its flight to the Danish capital yesterday was cancelled. The service to Zurich is still scheduled to depart Sarajevo tomorrow morning and tickets are on sale. Macedonia’s former national carrier MAT faced similar problems with Eurocontrol prior to its demise in 2009, as it was banned from flying over several European countries due to unsettled debts. B&H Airlines was initially founded as Air Bosna in 1994, but declared bankruptcy in 2003. Two years later the Federation government revived the carrier and renamed it B&H Airlines. Turkish Airlines purchased a 49% stake in the carrier in 2008 with a promise to expand its fleet and operations. However, in 2012, it withdrew from B&H’s ownership structure, citing disagreement sand problems with the government. Last month, the President of B&H Airlines’ Supervisory Board, Goran Jovanović, said that the airline must continue flying because any stoppage would lead to bankruptcy. “We cannot stop flying until this situation is resolved, because we would immediately loose our license”, Mr. Jovanović said at the time.
B&H Airlines has outstanding debt towards HETA and the Hypo Alpe Adria Bank for the financial lease of its two ATR 72 aircraft, one of which has been grounded in Germany since the carrier is unable to pay for its maintenance. Furthermore, the airline owes money to Sarajevo Airport, several local and international suppliers, as well as its staff which haven’t been paid in months. The management of Sarajevo Airport met with representatives from B&H last week to discuss ways in which to reprogram the airline’s debts and unblock its accounts. The carrier’s acting CEO, Amir Jažić, painted a bleak prospect of the carrier’s chances for survival in late January, stating he fears it’s “too late to save the company”. B&H counts some 100 employees.
(Source: exyuaviation)