Bunavad (Bulgarian: Бунавадъ; Българско народно въздухоплавателно акционерно дружество, romanized: Bunavadŭ; Bŭlgarsko narodno vŭzdukhoplavatelno aktsionerno druzhestvo, lit.
The agreement provided for the state to facilitate certain loans towards the purchase of airliners and to disburse certain funds towards the opening of air services.
During 1927 private Bulgarian business interests led by Dr Dimitar Tochkov as Director formed the Bunavad airline.
Bunavad continued operating amid drastically worsened business conditions until forced to wind-up on an unknown date in 1930.
This, added to the paucity of intergovernmental arrangements, largely put paid to any international services that might have been conceived by Bunavad or putative other Bulgarian airlines.
Burgas was the only one of the cities served by Bunavad to have established a fully functioning international airport prior to the airline's formation.