The crisis lowers Atlassib’s business below the €200 mln threshold

“Although I think I will register a 10 percent decline, there is still a chance that the business will stagnate, considering we posted an increase in the first quarter of this year compared to the set budget,” Carabulea told Business Standard.

The businessman’s plans for 2009 include maintaining his current business portfolio of international passenger and freight transportation, and seizing various business opportunities, such as agriculture.

“The passenger transport segment has slowed, due to the crisis in Italy and Spain. Moreover, there is fierce competition from low-cost airlines, even if we address a different segment,” Carabulea added.

Regarding Banca Comerciala Carpatica, the businessman said that he is currently engaged in negotiations to sell a share package of up to 30 percent to a foreign or local strategic investor.

In the past few months, the transporter’s costs rose 25 percent due to expenses for leasing, fuel, and spare parts. The company’s turnover amounted to some €96 mln in 2008, up 5-8 percent year-on-year.