The privatisation agency has extended the bidding deadline for the national flag carrier Bulgaria Air to October 12 from previously set October 5. The change is made on the request of one of the two bidders registered for the final race of the competition. Balkan Hemus Group (representing Bulgaria 's second largest air carrier Hemus Air) and Air One - Bulgaria (local subsidiary of Italy 's Air One) are certified by the privatisation agency to submit binding bids on a price threshold of EUR 5.1mn. The state is selling the full stake in Bulgaria Air but will retain a "golden share" with the right to block key decisions. Bulgaria Air reports net sales of around EUR 100mn, 750,000 passengers, and pre-tax earnings of EUR 0.26mn for last year. It has licences for servicing 30 international lines. The financial flows of the air carrier have rapidly deteriorated this year and unofficial information presented in the press points to big losses in the tune of EUR 3-4mn in Jan-Sep.
Source: IntelliNews - Bulgaria Today