Thursday, September 20, 2012

► BOSNIA HERZEGOVINA: Libya's Buraq Air tipped for minority shareholding in B&H Airlines.

Buraq Air logoTripoli based Buraq Air (UZ), a private Libyan airline that operates scheduled domestic and international services to Europe, North Africa, and the Middle East, has been tipped as the most likely candidate to acquire a 49% in Bosnian airline BH Airlines (JA).

BH Airlines ATR
One of BH Airlines' two ATR72s
Currently, the airline is jointly owned by the government of the Federation of Bosnia and Herzegovina (99.93%) and private entity, Energoinvest (0.07%). A previous 49% shareholding was held by Turkish Airlines (TK) until June this year when the deal went sour following a difference in opinions on the carrier's future.

According to reports out of the former Yugoslavia, the Libyan carrier is said to be prepared to heavily invest in the Bosnian carrier with plans having already been presented to the Bosnian government. However, in order to avoid a repeat of its failed Turkish Airlines partnership, the Bosnian government will draw up a contract specifying the exact roles of each part owner.

Official talks with Buraq Air are set to begin next week.