Blue Air (Romania) (0B, Bucharest Otopeni) has confirmed Zeitfracht Gruppe has taken a 10% shareholding in the carrier. Though the German logistics specialist has previously confirmed it has acquired a foothold in the Romanian budget carrier, it did not disclose the precise size of the stake acquired.

In a statement to local Romanian media clarifying the tie-up, Blue Air said negotiations began at the end of 2018, while the actual share transfer documents were signed on December 12, 2018.

Zeitfracht then sought the go-ahead from the German competition authorities which was duly granted this month, it said.

Blue Air did not state whether Zeitfracht has plans to increase its shareholding in the airline.