SOFIA, Bulgaria (BulgarianMilitary.com), 23 August 2018, Editor: Bm Team, Photo credit: en.wikipedia.org/Bulgarian Air Force Mi-17

Non-serviced credit debts at the amount of about BGN 15 million of Avionams will be put on 24 August (Friday) on sale by auction with secret bidding by the assignees of the Corporate Commercial Bank AD which went bankrupt a year ago, learned BulgarianMilitary.com

The credits were contracted in 2012 – a period when the company was private, and the main stock package was owned by Hedge Investment Bulgaria.

In 2016 Avionams again became a state company and the State Consolidation Company purchased the stocks through a private enforcement agent.

One of the credits was concluded on 9th Januray 2012 for the purchase of 6 Mi-17 helicopters, and it is supposed that Avionams was the mediator in a trade deal and the helicopters are intended for re-selling. The credit is at the amount of about BGN 8 million.

About BGN 9 million were granted in December the same year as a second credit of Avionams, and the funds were needed for the purchase of 34% of the capital of “Terem – Georgi Benkovski”.

The current tender procedures of the assignees related to the credits of Avionams concern the period when the company was private.

According to the Ministry of Economy the company operates successfully at the moment, and it fulfills orders, assigned to it by structures of NATO and regularly serves its debts to the State Consolidation Company.

About 82% is the increase of the incomes from the activity of the company for the first half of 2018, to BGN 20 million, and the sales have grown twice and a half to BGN 16,2 million. The first half of 2018 is marked by the reporting of BGN 4,3 million profit by Avionams, while, for the same period in 2017, the company was at a loss of BGN 1,8 million.

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BulgarianMilitary.com