TIRANA, Feb. 17 – The Tirana District Court has approved the bankruptcy of Bellair, which had been Albania’s largest airline before abruptly ceasing operations late last year.
Bellair had made the request for bankruptcy in November last year when it suspended operations due to liquidity problems.
Belleair owed tax authorities 4.8 million euros, according to officials. The company covered over 50 percent of flights to and from Albania.
Its bank accounts in Albania were frozen. Other airlines have started to replace its market share.
With the declaration of bankruptcy, the government and passengers that are owed money will likely be unable to recoup their funds. A public administrator will take over the company until all the procedures of bankruptcy are completed.
