In the passed few months the Bulgarian government received concrete offers from only three Bulgarian carriers. At a certain point JAT from Serbia was holding behind-the-doors talks with the Bulgarian government about a possible takeover, however they ended without success.
Its hard to believe that this is the end of Balkan Bulgarian, but yet it was inevitable without drastic intervention. Perhaps the most tragic event for the airline was when they traded their prized slots at London Heathrow Airport with British Airways. At that time it was clear about how serious the situation was. Overall Balkan Airlines had an over 90-million USD debt to its creditors, and the airline had very few fixed assets.
In my opinion Balkan Air Tours will not find it any easier. The name fits well for a charter company rather than a national airline. Furthermore, no other Bulgarian companies have shown leadership in the Bulgarian market, though perhaps Hemus Air is the strongest amongst them all.
Heres my tribute to Balkan Bulgarian Airlines...
Photo © Eduard Marmet
Photo © Jörg Tegen
Photo © Alexander Jonsson
Photo © Gordon Zammit
Photo © Michael F. McLaughlin
Photo © Paul Robinson
Photo © Chris Sheldon
Photo © Jason Taperell
Photo © Tamsin Zvereva
Photo © Peter Unmuth - Vienna Aviation Photography
...the airline that once was.