A $45 MILLION loan from Bulgaria's State fund for Reconstruction and Development will allow the national carrier, Balkan Airlines, to embark on a badly needed fleet-modernisation programme.
According to reports in the fortnightly journal, East European Markets, the loan, which has just been approved by the Government, forms part of a stabilisation programme for the airline, endorsed by the transport ministry earlier this year.
The programme calls for Balkan Airlines to buy eight new aircraft in the coming four years. With the loan in place, the company intends to purchase three 50-to 60-seat aircraft immediately for short-and medium-range services. Interest is focused on Russia's Ilyushin Il-114 and Yakovlev Yak-42 airliners.
Balkan Airlines is also considering buying two Russian Antonov An-12 freighters.
Source: Flight International
