The Uvet Group, which operates in the tourism services sector, has sold the airline Blue Panorama Airlines to the US fund Bateleur Capital, which specializes in investments in the fields of civil aviation, maritime transport, energy and real estate. The announcement was made in a joint note today. 

The agreement will be finalized after the assessment by the Court of Milan, and the competent bodies, to which a proposal for arrangement with creditors was submitted on April 29, 2022. This initiative is linked to the difficult situation of the airline, which is at risk of bankruptcy after having ceased operations due to restrictions on air travel as a result of the pandemic. 

The sale contract signed by Uvet provides for the purchase by Bateleur Capital of 100% of the shares after obtaining authorizations from the regulatory bodies. The fund will also underwrite a convertible loan to support Blue Panorama's financial needs.

On the same subject see also the article published by AVIONEWS.