The privatization process at aircraft producer Avioane Craiova started off the wrong foot. The deadline on May 2 passed with a single offering being submitted by a consortium formed by Romanian companies Aerofina Bucuresti, A5 Invest Caransebes, A2 Impex Ploiesti and Uzuc Ploiesti.

The final offers for the privatization must include a five-year business plan and investments of at least 5.01 million euros, out of which 1.67 millions in the first year.

The stock at Avioane Craiova is currently held by the State Assets Agency (AVAS) - 80.94% and other shareholders - 19.06%. The company builds the IAR 99 plane, with its Standard and Soim (Hawk) models.