NOTICE RECEIVED: BHANSA Funds Unblocked

(Patria) - The Air Navigation Services of Bosnia and Herzegovina (BHANSA) announced that it received an official letter from Eurocontrol today regarding the unblocking of funds that were previously temporarily frozen based on a court order.

- Funds collected from passenger and overflight charges, accumulated during the blockade period, were duly paid to BHANSA immediately after the order was lifted. This ensures the continuation of regular collection and distribution of revenue from the use of Bosnia and Herzegovina's airspace, without further delays - BHANSA stated.

At the same time, BHANSA has undertaken activities to return funds intended for state institutions of Bosnia and Herzegovina, thereby further strengthening stability and ensuring the uninterrupted operation of the air navigation system.

We remind that the dispute arose in 2016 when the Slovenian company “Viaduct” initiated arbitration against Bosnia and Herzegovina due to the unilateral termination of the concession for the construction of hydroelectric power plants on the Vrbas river. The arbitration tribunal in Washington (ICSID) ruled in favor of the investor in 2022, and the debt amount, with interest, grew to over 110 million KM.

As the debt was not settled, “Viaduct” initiated enforcement proceedings, and Eurocontrol, by court order, temporarily blocked funds belonging to BHANSA, although this agency was not a party to the dispute. Thus, BHANSA became collateral in the case of a debt incurred at the entity level of RS, which caused serious risks to the functioning of air traffic control in Bosnia and Herzegovina.