History
Hemus Air, named after the ancient name for the Balkan mountains, is owned by Varna-based industrial/financial enterprise TIM. The airline was established and started operations in 1986, when it branched off from Balkan Bulgarian Airlines. It initially operated as a separate department providing ambulance services, flight calibration and aerial photography. In 1996 it became a separate legal entity from Balkan and was named Hemus Air. The company was privatized by Bulgarian corporate investors in 2002 and has since faced stiff competition from foreign carriers, as well as the newly-established successor of Balkan, Bulgaria Air. Hemus Air's management pledged to unite the major Bulgarian airlines and was selected as the preferred bidder for the sale of Bulgaria Air by the Bulgarian government. Hemus acquired a 99.9% stake in the flag carrier, reportedly for Euro 6.6m and a promise to invest a further €86m over the next five years. Hemus and Bulgaria Air have already started codesharing on the Sofia-Berlin Tegel route, coordinating their schedules and operations early in 2007. Hemus Air received some aircraft from Bulgaria Air.
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