A Greek-American consortium has declared its interest into the privatisation of Bulgaria's flag carrier, media claims.

According to Greek Imerissia newspaper as cited by Bulgarian media the consortium "York Capital-Olympic Investors" is eyeing "Bulgaria Air".

In the beginning of June Bulgaria's sale body opened a public two-stage tender for the sale of 30,159 shares forming 99,99% of the capital of the national air carrier.

Sofia invited strategic and financial investors, only if the company, which owns no less than 51% of the partnership, is Bulgarian or European. The successful candidate must have posted EUR 150 M of revenues in aviation services for the last two years and have flown 750,000 passengers for the same period.

Financial investors are required to manage over EUR 250 M in assets or to hold stakes in other companies in excess of EUR 150 M.

The state-owned company succeeded bankrupt Balkan Airlines in late 2002.

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