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.............................. Balkan Bulgarian Airlines
Logo and Trademark..............................
Balkan Airlines was Bulgaria's government-owned national carrier between 1946 and 2002 and, at its height, one of Europe's largest air carriers. Despite a change of livery, subsequent events at Balkan seemed to confirm the worst expectations. Because of the Israeli connection, the airline lost its traditionally lucrative Arab routes at a stroke. Its assets seemed to be being put under the hammer in a classic asset-stripping exercise. Much of the overblown staff establishment was declared redundant. By early 2001, Balkan's fleet was not even up to the task of meeting the airline's summer charter commitments. Despite taking on some used 737-300s and one ATR42, the airline was underfunded. After a short service break in early 2001, Balkan halted all services for a long period just as the peak summer season approached, declaring insolvency. Zeevi management left to begin a complex lawsuit against the Bulgarian government whom they claimed had sold them a pup.
In fact, over time Zeevi did develop a cogent business vision for Balkan: to sever links with the overstaffed Soviet-equipped past and make the airline a compact, profitable 737-equipped carrier. They were stymied by their own managerial incompetence, staff and government resistance, and the foreseeable misfortune of losing the Arab routes.
Meanwhile, the government installed receivers to run the company. Short of cash, in 2002 they sold Balkan's valuable six weekly slots for Heathrow airport to British Airways for six million dollars. This caused a major outcry in Bulgaria and ultimately resulted in Balkan's final closure in October that year. By then, nothing of genuine value had been left to sell other than the much-tarnished Balkan name.
Balkan was succeeded as national carrier by newly formed Bulgaria Air. Although the new airline was briefly known as Balkan Air Tour, and although it succeeded as lessee of several Balkan Boeing 737s, it has nothing in common with the former national carrier.
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