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| Adria Airways expected to complete privatisation after January 19, 2016 |
The Slovenian government is likely to complete the sale of a 91.58% stake in Adria Airways after January 19, 2016, when a key vote is scheduled to take place concerning an eight million euro capital hike. Originally planned for November 23, the vote was delayed upon the request of the Slovenian Sovereign Holding (SSH), which is overseeing the airline's privatisation process, in order to give it more time to negotiate with potential investors. Media reports at the time suggested the company would be sold via the capital increase. This is seen as the likely scenario for the January vote as well. Documents concerning the extraordinary shareholders' meeting show Adria is seeking to sell new stock at a euro apiece, while existing shareholders will not have a pre-emptive right to buy the shares.
Investors will have only nine days to make the payment, meaning the privatisation process is likely to be completed by the end of January. The capital increase has been described as urgent, since Adria is believed to have generated losses this year and seen its revenue decline. The Slovenian government has said it is looking at ways to ease Adria's expenses without providing direct state aid, which it has been prohibited from doing under European Union legislation. Furthermore, the SSH is hoping to reach an agreement with Adria's creditors in order to reprogram or write off some of the airline's debts in an attempt to make it more appealing to potential investors.
In October, Adria Airways' CEO, Mark Anžur, said the government was entering exclusive negotiations with bidders. “They have already submitted their bids and very soon the government will shortlist one and enter final negotiations", Mr Anžur said, noting there are both financial and strategic partners in the running. “We are developing our own strategic plan, which can be supported or not by the new owner”, he added. Three German investment companies - Intro Aviation, 4K Invest and Callisto - are believed to be vying for the majority share in the Slovenian carrier. According to public broadcaster "RTV SLO", a fourth bid was initially made by Spanish airline Binter Canarias, however, the carrier has since withdrawn its offer.
I wouldn't be surprised if it's sold to some Polish company. Over last three months Adria Tehnika was bought by Poles, Paloma was bought by Poles and last week Trimo was bought by Poles.
ReplyDeleteI wouldn't mind LOT :D
DeleteSo they are selling 91% for 91 euros?
ReplyDeleteIntro Aviation is about to sell Cityjet which they have turned around nicely. Adria might be their next project.
ReplyDeleteAdria is a 100% state owned company for which you can't find any information. They haven't published their financial report, they don't report their financial performance, how much money did they get in Estonia, how much money did they waste on entertainment? When are we going to find this out? They operate like Montenegro Airlines when it comes to finances.
ReplyDeleteAny potential buyer knows what he needs to know. The sale will probably take place but my bet is an investment fund rather than another airline.
DeleteAdria publishes detailed financial reports on yearly basis.
DeleteYou can find it on their website. Although truth be told they published it in September for 2014.
DeleteOne thing is sure, the current management will hve to leave the company with the current owner.... i dont know how incapable you have to be that in current oil market situation you generate losses of several mio EUR..... in larger airline words, that would be losses of 600 to 700 mio EUR
ReplyDeletesomehow well managed airline will post 2015 profits of 0.5 up to wide more than 1.0 bln EUR
the US carriers more than 2.0 bln USD
+1
DeleteI'd also like to see JU's financial report for this year. Hopefully they manage to go from a loss in 2014 to a profit in 2015 (excluding gov't subsidies). If they can't make it with oil prices this low...
DeleteYou will see it at some point in 2016. There will be profit for sure, the only question is with how much state aid (the less the better).
DeleteSo all of these palnd that they have for new routes, Hungary, Estonia, Albania, Pristina could be for nothing since the new owner can decide it doesn't want an airline with 5 bases across the continent?
ReplyDeleteA bit of Air Serbia experience
ReplyDeletehttps://www.youtube.com/watch?v=zXElHpq1qEk
What that has to do with Air Serbia?
DeleteIt seems like Adria is preparing to put into service its second CRJ700!
ReplyDeletePerfectly suited for MBX.
DeleteHaplek
What are there plans for MBX. Earlier this year they were talking how they would establish a base there?
DeleteAll we officially know is that talks over several routes are being held.
DeleteHaplek
Thanks. Hope for the best outcome :)
DeleteIt is already in the Adria Tehnika hanger...mantaining and painting
ReplyDeleteWhen is it expected to enter service?
DeleteWith end of December/start of January...
DeleteHaplek
Will it be in Ljubljana or in another city, like the other one in Lodz?
DeleteRegistred as S5-AAY
ReplyDeleteJa mislim da ce ih LH kupiti posto da ih kupi bilo koji investicioni fond cisto sumnjam da bi oni pristali da lete destinacije za LH i LH nebi pristala .
ReplyDeleteAli onda ne znam kako ce se snaci CTN bice previse Star Alijanse i EY Alijanse u okruzenju.
INN-NS
Pa da, CTN ce se tesko izvuci, to je istina. Sada su opet pali u tipican zimski san. A s druge strane mozda je sve tiho zbog sastavljanja nove vlade.
DeleteI don't think it was such a bad year for Adria. They introduced new routes, planes, got on board entertainment. That's more than most airlines in the region
ReplyDeleteIt depends on the airline. For some airlines in the region it indicates a good year. For some other it is just another reason to thrash them, hate them and search for some dark conspiracies behind their good year.
DeleteTo be clear, I agree with you when you say Adria can be happy with 2015.
From a passenger's perspective, sure. From the common Slovenian taxpayers, who is supporting all these new routes from DEB, LCJ, PRN, TIA, etc. - not so much.
DeleteLet's not forget that Adria made 5 millions Euro loss in only the first 5 months this year. Loss that will have to be covered with taxpayers money, even if they manage to sell it.
Measure of good performance is profit not the IFE, new routes etc.
DeleteLoss can not be covered by taxpayers money, not in EU. They were looked throw fingers once, but will not for 2nd time, for sure. And "state help" can be done once in every 10 years + you must have private investor in same amount of money.
DeleteCompletely OT - I am impressed that JU has 3 (three) daily flights to Zurich these days:
ReplyDeleteJU370 - 06:55
JU372 - 12:40
JU374 - 18:05
Me too. Few days ago all 3 flights were operated with A320, while one of the LX flights was operated with A321. Looks like there is strong demand for ZUR during the holidays.
DeleteSwiss operated all 4 flights 18 to 20dec with A321
DeleteThis is common during holidays and Jul-Aug
I am unimpressed they still don't have at least double daily to Sarajevo, Skopje and other cities in the region.
DeleteLX is part of the LH group, there is a clear strategy who will operate what from where. So they are limited. But LX presence in ex YU is quite ok again. To step out of LJU was the right decision, especially since JP is a Star A member and has managed to hve very good relationship to LH over all the past years (actually 2 decades)
DeleteSve ce to fond da razbuca i preproda na kraju ce ostati od svih kompanija samo Montenegro.
ReplyDeleteWhat happened to LH1722 (MUC-BEG) today? It almost touched ground, and then did a go-around and diverted to Budapest?
ReplyDeletehttp://www.flightradar24.com/data/airplanes/d-aema/#85427d6
Sarajevo has been cancelled as well. There isn't a chance the ATR's are gonna land with the fog that is falling down right now.
DeleteAnon @2:02PM Wow!
DeleteThe FZ flight to Sarajevo has also been cancelled, it landed in Belgrade. It departed without passengers apparently.
DeleteAll flights are cancelled for today:
Deletehttp://www.sarajevo-airport.ba/?lang=bos&prosiri=1&gdje=0
The Sofia flight was diverted to INI.
DeleteThank God that is only BEY tonight out of BEG and who knows when it will depart which is why YU-ANJ will operate it. Operations should normalize tomorrow at the airport.
DeleteLooks like it is A319 operating. ANK going to SVO.
DeleteOT: Tentative permit has been issued by US DoT to Air Serbia od Dec 18. FAA and TSA have 91 point questionnaire and are coming to Belgrade in February. Some items from the list like new official Gate D are already completed, scanners and fire equipment are arriving, increased security procedures are being put in place:
ReplyDeletehttp://www.blic.rs/vesti/drustvo/stroza-kontrola-na-aerodromu-izuvace-nas-zbog-leta-u-ameriku/n6k04wt
First A330 will be registered YU-ARA, second one is unofficially announced. Air Serbia long haul is moving ahead full steam!
What are the rumored next destination/s? If nobody has solid insider info then I dont need your predictions since I can do that myself.
DeleteYYZ.
DeleteINN-NS
If they come in february, wouldn't that be a little to late to start selling tickets?
DeleteIt will be late but not too late. Announcement has been publicized everywhere and even diaspora is well aware. Across the pond I heard firsthand that direct flights were hottest topic during Slava crawl on Sat evening. For the right price, tickets will sell like hotcakes come February.
DeleteJa mislim da uskoro objavluju Toronto, sa kanadskim vlastima je sve postignuto samo jos nije sigurno od kada počinju letovi i da li će biti T1 ili T3. U YYZ im nude T3 ali AS pokušava na jedinicu zbog Etihada
ReplyDeletePa valjda zavisi od toga ko ce im biti partner, AC ili WS? Ako je WS onda je logicno da bude T3, ako je AC onda T1. T1 je naravno superioran.
DeleteAdria is believed to have generated losses this year and seen its revenue decline.
ReplyDeleteOh we can't believe it. It mist be the negative west propaganda.