Blue Panorama Airlines (Rome-Fiumicino) has entered into the equivalent of Chapter 11 (bankruptcy protection and reorganization). On October 23, the company issued the following statement (translated from Italian):
BLUE PANORAMA AIRLINES TAKES ADVANTAGE OF NEW REGULATORY TOOLS CONTAINED IN THE “ORDER OF DEVELOPMENT” TO INCREASE ITS COMPETITIVENESS ‘
Blue Panorama Airlines S.p.A. announces that it has applied for admission to the composition procedure in continuity under the Development Decree, according to the U.S. model of highly effective better known as “Chapter 11″.
Blue Panorama has decided to use this tool accessible to even a few weeks to Italian companies to consolidate their financial and capital structure in order to deal in the best position possible to the challenges posed by the current economic environment in the field of aviation and leisure travel. This is to continue to play in this respect the leading role that for over 14 years, is recognized by its customers. The start of the procedure has been notified to ENAC, which provided for the issuance of temporary license pursuant to article 9 of the Regulation 1008/2008.
The objectives that arises Blue Panorama Airlines through this new route are to:
– Continue to offer passengers excellent service, safe and reliable;
– Improve the industrial and commercial efficiency;
– To ensure the normal operation of domestic and international flights;
– Continue to offer competitive air links for the benefit of users;
– Make Blue Panorama Airlines and Blu-express a new benchmark in the sector.
During the reorganization process, Blue Panorama Airlines will carry out normal operations, while maintaining the commitment of its management team and operational. In addition to the consolidation of traditional connections will also be triggered new international services of great interest both outgoing and incoming flows.
Blue Panorama Airlines and Blu-express continue to operate their respective flight schedules, honoring tickets and reservations as usual, and to continue the industrial partnerships with carriers, tour operators and travel agent partners.
The President and founder of the company, Franco Pecci, maintains and increases its commitment to the holding in the firm belief that customers, which have always been the company’s priority will continue to use the Blue Panorama flights and Blu-express for quality service competitive and constantly delivered by the carrier in all years.
Copyright Photo: Lucio Alfieri. The company operates under both the Blue Panorama Airlines and blu-express names and brands. Boeing 737-4K5 EI-CUN (msn 27074) carries both names at Bologna.