Bosnian arm of Hypo Bank blocks BH Airlines accounts over unpaid debt.

By bne IntelliNews March 6, 2013
Hypo Alpe-Adria-Bank Internationals arm in Bosnias Mostar has blocked the accounts of BH Airlines over unpaid debt, Anadolu Agency reported, quoting sources from the bank. The reason for the blockade was BH Airlines outstanding debt and its huge delay in servicing the leasing contract, via which the air carrier has bought two aircrafts, Ana Jurkovic from the Mostar-based lenders marketing department told the news agency. The report reminds that BH Airlines has already cancelled all its flights as of end-Feb due to malfunction of the airplanes. The bank has offered BH Airlines a restructuring of the debt repayment model as the removal of the blockade depends on whether the proposal agreement will be accepted by the companys owner the government of Bosnias Federation, Jurkovic said. She added BH Airlines bankruptcy is not in the interest of the bank.

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