The move was supposed to be part of the RTO and listing plan. Ridgecrest PLC cash shell announced on October 25 that it has terminated talks on a possible takeover of Romanian low-cost airline Blue Air headquartered in Bucharest.ĭespite the decision, Romania's largest private airline Blue Air is still planning to list its shares on the London Stock Exchange by reverse takeover (RTO) early next year and issue bonds on the Bucharest Stock Exchange (BVB) later in the year.ĭespite the failed RPO, the listing calendar has not changed, Blue Air said quoted by Profit.ro, adding that giving up the reverse takeover just means a change in the strategy.īack in July, Ridgecrest announced that it had concluded a non-binding letter of intent with Cristian Rada to buy his company Airline Invest and its subsidiaries, Blue Air Aviation and Blue Air Technic.