Georgian Airways for Sale for $ 150 Million - Georgian Business Brokerage is Looking for an Investor

The recently established Georgian-American "Georgian Business Brokerage" is looking for an investor for Georgian Airways.

Georgian Airlines, which has a 28-year history, is estimated at $ 150 million in the company's sale offers. It is possible to buy its share of the airline in full or in part.

It should be noted that Georgian Airways recently applied to the court with a request to start an insolvency case. The airline requested a switch to rehabilitation mode which was granted. The company owes up to 176 million GEL to its creditors. Its assets are only 21.3 million GEL. The company has liabilities to more than 70 agencies, suppliers, and 16,168 passengers.

Georgian Airways says it has a clear vision for the rehabilitation and the plan will be developed in two months, based on revenue from existing flights, which the company's owners claim will ensure revenue generation and lender visits.

As for "Georgian Business Brokerage", the president of the company is the former president of Georgian Airways Roman Bokeria.

Georgian Business Brokerage plans to attract foreign investment to Georgia through the US International Business Brokers and European Business Brokers Network and to finance promising business projects with global private equity.