History
The airline was founded on 12 August 1994 as Air Bosna. In the autumn of 2003, the airline ceased operations due to an increased debt that it could no longer repay. It remained defunct until May 2004, when the Government of Federation of Bosnia and Herzegovina promised to revive it. In June 2005 it restarted operations as B&H Airlines, operating a pair of ATR-72 aircraft.
In late 2007, the Bosnian government announced it was to sell shares in B&H Airlines. On 23 February 2008 it was reported that Turkish Airlines were in negotiations to buy the airline, and on 30 March 2008 that Croatia Airlines was also interested in a stake. The government of the Federation of Bosnia and Herzegovina also invited Comintel and MyAir (in addition to Turkish Airlines and Croatia Airlines) to recapitalise the airline.
Bids were received from Turkish Airlines, Malaysia's Comintel Corporation and a Jordanian consortium, which included Royal Jordanian. On 29 October 2008, the Bosnian government announced that Turkish Airlines had been picked as the best bidder in an auction for B&H Airlines shares. Turkish Airlines has proposed to sub-lease B&H Airlines two Boeing aircraft if requested by the airline and in return for 49% of the shares of the company covered the lease payments of the Boeing aircraft and participated in capital increase decisions.
Read more about this topic: B&H Airlines
Famous quotes containing the word history:
“No one is ahead of his time, it is only that the particular variety of creating his time is the one that his contemporaries who are also creating their own time refuse to accept.... For a very long time everybody refuses and then almost without a pause almost everybody accepts. In the history of the refused in the arts and literature the rapidity of the change is always startling.”
—Gertrude Stein (1874–1946)
“The history of philosophy is to a great extent that of a certain clash of human temperaments.”
—William James (1842–1910)
“The history of our era is the nauseating and repulsive history of the crucifixion of the procreative body for the glorification of the spirit.”
—D.H. (David Herbert)