Bulgaria's Transport Minister Dismisses CEOs of Two Railway Companies

Interim Transport Minister Hristo Aleksiev has dismissed the heads of two state-owned companies in the railway sector.

The national railway transport operator, Bulgarian State Railways (BDZ), will have Georgi Drumev as CEO, replacing Vladimir Vladimirov.

Krasimir Papukchiyski is the new head of the National Railway Infrastructure Company, replacing Milcho Lambrev.

BDZ in particular has been in financial turmoil for years, struggling to find millions worth of debt and to improve deteriorating services.

Aleksiev warned earlier this week about the "critical" situation at BDZ, adding there was a risk of the company sliding into insolvency while waiting for authorities to find the money to pay off its debt.

The previous cabinet's plans foresee that the payoff will be financed through the concession on Sofia Airport which it hoped to secure before its term ended abruptly with the resignation of the Prime Minister.