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| Company submits offer for a stake in Adria |
A company has submitted an offer to purchase a stake in Slovenia’s national carrier Adria Airways, the country’s Central Ownership Entity (SOD) has confirmed. The offer was submitted on February 28, 2014. The bidder expressed interest to invest in Adria if the airline’s debts to various banks were written off by the state. Since then, the SOD forwarded the non binding bid to the Bank Assets Management Company (DUTB) for further scrutiny. The DUTB ultimately rejected the offer. It found the state could not influence banks to write off debt to the national carrier. In addition, the bidder requested for the airline’s state aid issues, which are being discussed at the European Commission, to be resolved.
Neither the Central Ownership Entity, nor the Bank Assets Management Company, wanted to reveal the name of the investor and the contents of their offer. The bid comes as a surprise since Slovenia has not begun formal procedures for Adria’s privatisation. However, the sale process has been scheduled for this summer, following the European Commission’s June ruling on whether the Slovenian carrier received state aid for several years, contrary to EU regulations. Adria, together with Ljubljana Airport, form part of the fifteen state owned companies which have been earmarked for sale in order to kick start the local economy.
Around the time an offer for a stake in Adria was made, in February, the Slovenian Prime Minister, Alenka Bratušek, said, “We're making good progress with [Adria’s] sales negotiations. There will be no delays". However, the process could be postponed with the prospect of early elections being raised. Over the weekend, the Prime Minister lost the leadership battle within her party and has said she can no longer govern the country. The Prime Minister has been instrumental in the sale of state owned companies over the past year. So far, China Southern Airlines has been rumoured as a potential investor not only in Adria but in Ljubljana Airport as well.
Well well congratulations Adria .If this news is true then this means the end of Croatia Airlines as they dont have a buyer thanks to Ceo Mr. Kucko. Like this no need to fire him just close the company well done Mr. Kucka
ReplyDeleteHopefully, Adria will go well, wish them good luck... And for Croatia Airlines, they missed all possible chances so now they should go bankrupt and put Kucko to prison! Btw., I'm a Croat but I'm honestly sick of our government not doing anything to save them so they will deal with negative consequences! Bye bye, OU! Good luck, Adria!
DeleteTwist: It's Air SSerbia.
ReplyDeleteWell the next PM will most likely be Jankovic who is of Serbian descent so you never know :D Joking, I highly doubt it. But would be really interested to see who put in this offer. I have more of a feeling its China Southern.
DeleteI really wonder who it was. I remember last time they held a tender 10 companies applied to buy shares but apparently they were all some investment funds so the government wasn't happy with the results.
ReplyDeleteOT: Does anybody know where are Air Serbia's planes YU-ALP & YU-ALT? Do they fly or not?
ReplyDeleteYU-ALT is in Belgrade.I think it fly this morning to Podgorica.
DeleteYU-ALP is in Lelystadt.
Thanks
DeleteYU-ALT flew to Podgorica this morning and then in the afternoon to Skopje. The aircraft looks amazing on the inside.
Delete@ Nemjee
Deletereconfiguration of seats?
I don't think they changed the seats as they are blue leather one (like they used to be) but I think they changed the overhead compartments and put in new lights and carpets. I was really impressed when I entered the aircraft.
Deleteahaaaaaaaaaaaaa ok, nice ;)
DeleteI believe that Adria will survive, because Slovenian are dilligent and they occur, sometimes, not very often, bus still sometimes, to do something not just for their own pockets. And they will certainly not start makin collapse on purpose, as it was case in Jat.
ReplyDeleteOff course, they will not make any overpromices, as Air Serbia, where Serbian fatalic way of thinking is showing off, but: "Tiha voda breg roni".
Is there any specific reason why you are not able to wish well to the Slovenian carrier without bashing and trashing on another carrier and its entire nation? Does their existence really cause that much pain? Well how about you try some medications rather than internet blogs?
DeleteYes, there is. I lived in both Serbia and Slovenia. Serbia will *never* be better place for living and working then Slovenia, and there is a reason for that. People have different approach to work and life, that's the fact. Serbian approach does not bring succes in a modern world, which we see clearly. Maybe in some other system, but in past 200 years it's just wrong. That's the truth.
DeleteI believe it was already published, at least in comments. Nevertheless, here is very nice video from JustPlanes on Adria Airways:
ReplyDeletehttps://www.youtube.com/watch?v=FVsfO2qdKv0
ZADNJI ČAVAO U CROATIJINOM LJESU
ReplyDeleteAko se desi privatizacija Adrije biti će to fatalno po CTN.
1. Što vlast radi da ne proda CTN? Nakon ekpanzije Air Serbije po kupnji od strane Etihada već je puno prekasno, i teško da će to CTN preživjeti. A prodaja i ekspanzija Adrije bila bi još samo šlag na tortu.
2. Qatar je jasno najavio volju za kupovinom kompanija u Europi. Nije da nema boljih prilika od CTN-a, ima ih poprilično, no još uvijek to nije velika brojka. 20-tak ih je trenutno u Europi koje su na dispoziciji. A i Etihad kupuje ko blesav, nešto od toga će i oni tržiti, nije baš da će Qataru ostati gomila toga za kupiti. Jel itko iz ministarstva uopće pokušao kontaktirati Qatar?
3. Što ako Adriju kupuje Air Serbija ili Qatar. Može li CTN to preživjeti? U prvom slučaju biti će to klinč oko Hrvatske, u drugom isti scenarij kao i Air Serbije, dakle ekspanzija u regiji. Ne znam koji bi scenarij bio gori. Što će onda preostati CTN-u
- SJJ, SKP, TGD će zajedno poharati JU i JP,
- TIV, OTP, SOF, BNX je poharala JU
- PRN i TGD je već poharala JP,
- a svakako je za očekivati i JP + JU ekspanzija na SPU, DBV, ZAD, PUY, RJK (pogledajte samo kako je JU pojačala broj letova prema SPU i DBV na čak 11 tjedno i to prije nego su uopće počeli letjeti).
Jedino ozbiljno rješenje je da se Croatia ultrahitno proda kvalietnom kupcu (a to su trenutno samo Qatar, Singapore, i dvije-tri kompanije u Kini) ili da isti kupac kupi Adriju i Croatiu. Naravno uz uvjet da istovremeno kupi Ljubljansku zračnu luku (a navodno to će se desiti), jer bi u protivnom večina putnika išla preko LJU a ne preko ZAG. U ovom momentu istovremena kupnja OU i JP je gotovo nevjerovatna.
Pogreška - PRN i TGD je već poharala JP.
DeleteIsrpavno - PRN i TIA je već poharala JP
Gospodine Purger. Sta bi bilo u nekom scenariju da dodje do neke vrste udruživanja OU i JU i da podele Balkansko tržište, Francusku, Italiju i Švajcarsku. odnosno da OU udje u neku buduću Etihad alijansu ? OU da pokrije Iberijsko poluostrvo, Nemačko, Belgijsko i Holandsko tržište a JU Rusko, Skandinaviju, istočno Balkansko, Bliski i srednji istok. Da podle zapano Baklansko tržište. Najmanje 4 dnevne rotacije BEG-ZAG. Budući long haul letovi prema Americi preko ZAG a prema Aziji preko BEG.
DeleteTake it on good authority that it is definitely Air Serbia ... the codeshare agreement b/w JU and JP was the first step in seeing how this commercial cooperation would go and it has been an outstanding success. That is why JP has now grown their codeshare relationship with JU as a precursor to an equity investment in JP by JU ... this I sthe 'modus operandi' of how the EY philosphy works .... develop codeshare first to see how things go and if all goes well, then you deepen the relationship. They have complementary networks ... OU will lose BIG TIME from this coming together between JU and JP
DeleteZoran, ne vidim realne šanse za to, iz nekoliko razloga:
Delete1. Dualhub sustav se pokazao vrlo loše rješenje i došao glave Alitaliju i Olympic, a umalo došao glave i Iberiu. To mogu samo najveći, i to ne svi (British je odustao od ekspanzije u MAN, a Air France od nekoliko miniregionalnih hubova). Za sada to uspjeva LH i nekoliko Američkih, Japanskih, Australijskih i Kineskih kompanija. Ima i drugih koji imaju dualhub strategiju ali nisu uspješni (Indija, Skandinavija, Brazil...).
2. Dva huba na manje od 400 km baš i nije recept za uspjeh.
3. Upitna je raspodjela tržišta poglavito što dobar dio tržišta jest jedinstven. I tu bi krenuli problemi. Ozbiljni!
4. Politička realnost još uvijek nije da bi putnici iz Hrvatske putovali sa nečim što se zove Air Serbija, a kamoli da bi dozvolili ujedinjenje Air Serbie i Croatia Airlinesa. Ne znam kako je u Srbiji, ali u Hrvatskoj je sigurno tako.
5. Hrvatskoj svakako ne treba suradnja sa Air Serbijom obzirom da je gro putnika ipak iz/za Hrvatsku (ZAG + konekcije na SPU, DBV, ZAD, PUY, RJK, OSI). Neznatan broj konektiranih putnika dolazi iz SJJ, SKP i PRN. Što znači da bi na ovaj način Hrvatska samo prelila svoje putnike na BEG sa ZAG i direktnih letova u sezouni sa morskih zračnih luka. Dakle, Hrvatskoj ne treba parner iz susjedstva nego netko što dalje to bolje. Već europski igrači (LH; AF, BA) bi bili riskantna priča. Kvalitetan management i kvalitetan suport bi vrlo brzo Croatiu stavio na mjesto lidera u regiji. Tu bi Air Serbia bitno izgubila, obzirom na Croatijine potencijale. Nažalost, tako što sada nije realnost i što će Air Serbija duže biti bez konkurencije u Croatiji, to je manja šansa da joj se "našteti". Nemalo puta sam rekao da nema mjesta za dva igrača. A za sada Air Serbija rapidno pobjeđuje, bez obzira što Croatia još uvijek ima više putnika.
Purger, why's the Croatian government waiting so long for 2nd round of privatisation? When is it going to happen? They're running out of time!
DeleteBecause they are incompetent even to breathe. The worst government we ever had! They even don't understand danger for croatian air business. Kučko, as friend of Primeminister, highlights that "Air Serbia is no danger at all for Croatia airlines", so everything is beautiful, they don't have do nothing! For them situation is perfect now as it is.
DeleteStupid blind who do not see the damage that will do!
Thanks for the comment, Purger, pleasure to read, as always! I read that Zagreb Airport construction is going really well, saw some pctures, too, hope they'll be making a building like the one on a render with 10 bridges, not the ugly and smaller one!
DeletePurger. could you see OU as a leisure airline in the future? Something like Condor, offering flights to Croatia for vacationers? I think that is the way that OU could do the most good.
DeletePurger,can you speak to someone and spread the news? It seems like nobody really cares,not even the newspapers.
DeletePurger, can you please tell me which party in Croatia you vote? Katicic and Misetic RUINED, DESTROYED, KILLED, you choose the expresion, Croatia Airlines, at the same time stilling money big time from people in Croatia to cover the losses they made, they made OU completely dependent of LH, they stole away possibility for long.haul flights and ZAG as a hub, they mentally kept OU in self-managing socialism till last year, and yes, they were both friends of prime ministers and presidents, but of course, it's nothing wrong with it, like with everything else in Croatia, it's only Kucko in croatian aviation and only SDP and PM who are guilty for everything. At least Kucko managed OU to get back to profitability, and how can you be sure that he, together with PM, are not working at similar scenario like this one published for JP today?
DeleteIt is not polite to ask someone for whom he votes. It is my private thing.
DeleteYes I think Mišetić and Šimunović (I was not so in during Katičić time) destroyed Croatia Airlines. And for sure new management didn’t have easy job. This government had chance to put professional on top of OU. Unfortunately they, again, put friend. Who was boss of 4 workers in one little and insignificant CTN office. And even there he had 2 Complaints to disciplinary committee by his workers. For sure that is not credibility to become OU CEO. And here are results. What I saw was 5 several fleet strategies announce by him in just 6 months. At least not serious. Than I was in public meeting where I had to rectify some basic facts of air traffic imposed by him. Basic! One should not teach CEO in front of 100 employees that if they proclaim bankruptcy and open new company they will not lost all slots etc. and to give him examples of Swiss, Brussels, Olympic, Alitalia...
But for sure nothing change exempt reducing of planes, routes and frequencies, what was originally elaborated by Mirko Tatalović PhD in 2009. So even that questionable idea was not his. Did they cut number of employees? Did they change anything in Croatia Airlines strategy and tactics? So, Croatia Airlines system found by Mišetić is still OK?
Now, about profitability. Decrease of petrol was much bigger than shown profit. So, that means they were just lucky, and if price of petrol stays on 2012 level they would still be in red. Let me point that most of companies in Europe had huge profit in 2013 but Croatia Airlines profit was just symbolic.
And to say, on public, that Air Serbia cannot harm Croatia Airlines is just dilettantism, nothing else.
Well, one cannot say if Minster or PM has some Adria like plan, but I cannot say that I did not see fiasco with 1st tender. That was nothing else but pure amateurism. I had meeting with minister just shortly when he came on that position. And, well, I was not impressed that he calls Q400 „that plane with blades with which we fly to Brussels“, Star Alliance „that unity where Lufthansa and Croatia Airlines are together“ and Malev „that poor company from Hungary that bankrupt“. I just hope that in meantime he learns at least that Croatia airlines flies with Q400. It will help when you have to explain potential buyers what they can buy
Sorry I don't agree with you when you say he got OU back profitability. The truth is the fuel prices were my lower that that they had first calculated and don't forget the excellent service given by their staff when OU was on strike due to Mr.Kucko ego towards his own staff. So please look at the destination that they flying on at the moment .For home airline very poor , they can only cry and blame others typical Mr. Kucko's mentality. That's why he is known here in Croatia as CRY BABY .
DeleteGospodin Kucko je samo obicna Figura od Djavolske Lufthansa AG.Marioneta.
DeleteCroatia je mogla biti Profitabilna ali kad to nekom se nesvidja.
Gospodina Purgera za Direktora od Ou.
Izvinjavam se ako imam Gresaka.
Tajni kupac JP sigurno nije JU. Niti Etihad ima razlog da koristi JU umesto da kupuje direktno, niti sumza JU predvidjene akvizicije pre nego što stanu na noge i srede sopstvene finansije (a to će potrajati). Iza tog fonda najverovatnije stoje neki domaći bogatuni.
DeleteIs there a way to have the gov't and Mr Kucko to open up to the public and be straight forward as to what is happening. Can the EU do something about it? How about start atleast a separate web site which would be called Save Croatia Airlines and start naming all the incompetant people. Time to put on some pressure.
ReplyDeleteSituation in both Croatia's and Slovenian's civil aviation is starting to change EXPRESS(Airways)-ly !!! :::)))
ReplyDeleteFor bad or for worse? Why stressing out the word EXPRESS?
DeleteBig delays ahead expected for Air Serbia charter operations, number of crew still not determined amongst other things.
ReplyDeleteNo, not true. They only have problems with the pursers.
ReplyDelete