The deadline for filing non-binding bids in the privatisation tender of Bulgarian flag carrier Bulgaria Air expires August 17, 2006.

The Austrian Airlines and the British Trans Atlantic Aviation Ltd have pulled out of the race to bid for 99.99 percent of the assets of Bulgaria’s flag carrier Bulgaria Air, the Privatization Agency (PA) announced. Four companies have submitted, within the specified deadline, their applications to participate in the competitive tender for the privatization of Bulgaria Air, out of the seven companies, which initially stated their interest in acquiring the air company. The bidders are the Balkan Hemus Group, Air One – Bulgaria, the Greek Aegean Airlines S.A., and York Bulgaria Investments EAD. By August 4, the PA will have to announce the names of t he bidders, which are admitted to participate in the tender. By August 7 the bidders may also acquire the information memorandum, and preliminary offers will be accepted until August 17.

According to the conditions specified by the PA, the strategic investors bidding for the acquisition of Bulgaria Air must provide evidence for revenues of ,more than EUR 150 million from aviation services for the last two years. Besides, strategic investors must have carried at least 750,000 passengers during the same period. Financial investors must provide evidence they have managed assets worth more than EUR 250 million during the last two fiscal years and must have shares in other companies for at least EUR 150 million.

Bulgaria Air expects a 30 per cent increase in the number of passengers using the Bourgas-Dublin-Bourgas flights. The increase is expected in August, as the company would offer two instead of three flights weekly, Darik Radio reported. Nearly half of the passenger seats on each flight to Bulgaria’s coast have already been booked until the end of August, Bulgaria Air representatives said. Charter flights would also be offered until the end of the summer season. These connect Bulgaria’s Varna to Vienna, Madrid, Milan, Amsterdam and London. Bulgaria Air also offers flights to Bourgas from London, Dublin and Madrid. The Bulgarian flag carrier would aim to present Bulgaria as a tourist destination during its summer project the Air of Bulgaria on Board of Bulgaria Air, Darik reported. Through its board magazine Bulgaria Air would present the attractions in Bulgaria’s summer resorts. The carrier also organised competition for the best coastal photograph, as a part of the initiative.