Airlines Uvet Group takes over Italy´s Blue Panorama

Blue Panorama has been looking for buyers since 2014 under court-appointed administration. After two previous attempts failed, Blue Panorama is now eligible to announce the finalisation of a deal between the airline and the Italian Uvet Group.

Luca Patané, President of Uvet Group said: “Our goal is to make Blue Panorama a vertically integrated company, within a leading group of mobility and tourism.” “It is a very complex business, but we believe in the relaunch of Blue Panorama and my ambition is that the airline can further grow the Group. We are a niche carrier, but we want to be protagonists anyway. We are already thinking about gradually expanding the fleet "

Recently, on the course of an agreement with Chinese tour operator Phoenix Travel Worldwide, Blue Panorama announced the launch of five new routes to China with departures and arrivals from Bologna.

Giancarlo Zeni, Managing Director of Blue Panorama commented: “We are very satisfied to implement ourselves in an environment like that of the Uvet Group, an important and known player throughout the market for the quality of products and services. The integration with Uvet is certainly a milestone for the growth of Blue Panorama and soon, I am sure, we will see the results "

Giuseppe Leogrande, extraordinary Commissioner of the procedure added: “The sale completed today is the epilogue of a complex restructuring process started over 3 years ago. In addition to the reorganization of the company, it is important to underline how, during the entire commission period, the company did not recourse to social cushions of any kind, counting on an active workforce of about 500 employees."

Blue Panorama Airlines is an Italian leisure carrier, based in Rome Fiumicino. The airline, which was founded in 1998, operates with four Boeing 737-800s, two Boeing 737-400s, two Boeing 737-300 as well as three Boeing 767-300s, connecting Italy with leisure destinations e.g. in Greece, Albania, Mexico, Jamaica, and Tanzania. Blue Panorama expects to close 2017 with a turnover of over EUR240 million.

The Uvet Group is an Italian organisation, specialized in business and leisure travel. Uvet hires 800 employees in Italy and Europe.