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Slovenia gets five bids for Adria Airways' assets

Author Iskra Pavlova
Slovenia gets five bids for Adria Airways' assets Adria Airways, Photo: Bobo

LJUBLJANA (Slovenia), November 14 (SeeNews) - Slovenia has received five bids in the tender for the sale of property and property rights belonging to collapsed flag carrier Adria Airways, the bankruptcy trustee, Janez Pustaticnik, said.

One of the bids is for the flight simulator of Adria's flight training school, while the remaining four concern all or part of the company's assets, Pustaticnik told reporters in Ljubljana earlier this week, according to a video file uploaded on the website of media outlet

Pustaticnik said the bankruptcy management has invited those four bidders for additional negotiations, following which it will decide on the further steps in the sale process.

He said the offers came from domestic and foreign private investors.

Earlier this week, Slovenian businessman Joc Pececnik told public broadcaster RTV SLO that his company Elektroncek has submitted a bid for all of Adria's assets on sale together with a foreign partner. A video file with his statement was published on the broadcaster's website.

RTV SLO reported that Slovenian businessmen Izet Rastoder and Ivo Boscarol have also submitted bids.

The tender was opened in October, following the October 2 launch of the bankruptcy proceedings against Adria Airways.

The troubled air carrier suspended flights in the last week of September over lack of funds to run its daily operations.

Adria Airways is controlled by German-owned fund 4K Invest via its wholly-owned subsidiary AA International Aviation Holding GmbH. It bought the airline in 2016 from Slovenian sovereign holding company SDH, which is coordinating the privatisation process in the country. Since then, the airline has sold all of its planes and leased them back to service its operations.

According to Adria Airway's 2018 financial report, the carrier's fleet comprised 19 airplanes, all of them operated under lease.

The company's net loss widened to 18.6 million euro ($20.5 million) last year from 5.4 million euro in 2017, due to higher fuel prices and because of additional costs for renting an airplane with its crew, Adria Airways has said.

($=0.909327 euro)