Open Menu

Georgian Flag Carrier Goes On Sale For $150Mln

Faizan Hashmi Published January 18, 2022 | 02:00 AM

Georgian Flag Carrier Goes on Sale for $150Mln

TBILISI (UrduPoint News / Sputnik - 18th January, 2022) Georgian Airways, a privately-owned flag carrier, is up for sale at a price of $150 million after the pandemic took it out of business, according to an online brokerage website.

The airlines' portfolio published on business-brokerage.

com says it performed 3,790 flights to 14 destinations in 2019. It employs 473 people and boasts a fleet of modern Boeing 737, Embraer and Bombardier CRJ jets.

Faced with bankruptcy, the Tbilisi-based airline filed for rehabilitation on the last day of December to stay afloat. It is now more than $56 million in arrears. Under local laws, only a Georgian national can own a controlling stake in the company.

Prize Bonds Results

Prize Bonds
PSX 100 Index Live

PSX 100 Index
Currency Rates in Pakistan

Currency Rates
Gold Prices in Pakistan

Gold Prices
Petrol Prices in Pakistan

Petrol Prices
Cryptocurrency in PKR

Crypto

Related Topics

Business Company Sale Price December 2019 Million

Recent Stories

Currency Rate In Pakistan - Dollar, Euro, Pound, R ..

Currency Rate In Pakistan - Dollar, Euro, Pound, Riyal Rates On 25 April 2024

10 minutes ago
 Today Gold Rate in Pakistan 25 April 2024

Today Gold Rate in Pakistan 25 April 2024

35 minutes ago
 Mired in crisis, Boeing reports another loss

Mired in crisis, Boeing reports another loss

10 hours ago
 Session Awarding Ceremony 2024 held at Cadet Colle ..

Session Awarding Ceremony 2024 held at Cadet College Muzaffarabad

10 hours ago
 Austrian ski great Hirscher to make comeback under ..

Austrian ski great Hirscher to make comeback under Dutch flag

10 hours ago
 Pakistan, Japan agrees to convene 'Economic Policy ..

Pakistan, Japan agrees to convene 'Economic Policy Dialogue'

10 hours ago
FM Dar conveys deepest sympathy on torrential rain ..

FM Dar conveys deepest sympathy on torrential rains devastation in UAE

10 hours ago
 Spain PM Sanchez says weighing resignation after w ..

Spain PM Sanchez says weighing resignation after wife's graft probe

10 hours ago
 Tennis: ATP/WTA Madrid Open results - 1st update

Tennis: ATP/WTA Madrid Open results - 1st update

10 hours ago
 Long-lost Klimt portrait auctioned off for 30 mn e ..

Long-lost Klimt portrait auctioned off for 30 mn euros

10 hours ago
 Osaka seals first win on clay since 2022 in Madrid

Osaka seals first win on clay since 2022 in Madrid

10 hours ago
 Earthquake jolts Karachi

Earthquake jolts Karachi

10 hours ago

More Stories From Business