Sources closed to the issue told Wall-Street Adrian Ionascu (photo) will remain in the company as maintenance base development director, his previous post before being promoted as chief executive.

The low-cost airline Blue Air posted a turnover of €140-150 million last year, up 20% from 2008 undershooting the €170 million target.

The airline carried 1.7 million passengers last year, and recorded an average load factor of 75%.

The airline employs 830 persons, and said it plans to increase headcount by 30% this year.

Blue Air is a 100% Romanian capital company authorized to operate regular internal and international flights, charter and cargo flights.

The company’s fleet includes nine Boeing 737: three 737-300 series, two 737-400 series, one 737-500 and three 737-800 Next Generation.