Cabinet decided that Balkan Hemus Group will be the buyer of 99.9 per cent of the capital of flag carrier Bulgaria Air.
The privatisation deal should be concluded in the coming 20 days, Darik Radio reported. Balkan Hemus Group offered 13 million leva for the acquisition of the national air carrier.
In the first five years after the acquisition, the buyer plans to invest 82.1 million euro. In the coming two years the investment would reach 65.85 million euro.
Balkan Hemus Group was going to increase the number of Bulgaria Air work places. After five years the company would offer employment to 1062 people, Darik reported.
Another innovation would be the opening of flights to 36 new destinations.
Darik reported that the privatisation of Bulgaria Air was transaction of importance for the national security and was following an approved Council of Ministers strategy.
The state maintains its ability to exercise control over the buyer through the ownership of the so-called 'golden share'. The share enables its owner veto decisions of strategic importance.
