The Slovenian government has begun the privatization process of Adria
Airways (JP) by seeking bids for 74.87% of the flag carrier’s shares. JP
said that interested parties should submit nonbinding bids by Sept. 10.
The stake is being sold by the state and four banks, which together hold 99.87% of JP’s stock.
Barons Financial Services is the exclusive advisor to sellers.
JP, which posted a first-quarter net loss of €8 million (9.8 million), received a €50 million capital boost in September 2011. JP is undergoing restructuring after failing to find international strategic partners.
CEO Klemen Bostjancic told ATW the carrier will restructure its fleet this fall (ATW Daily News, July 3). Its three Airbus A319/320 are expected to be phased out. The carrier also operates four Bombardier CRJ200s and four -900s. It transported 1.16 million passengers last year.
source: atwonline.com
The stake is being sold by the state and four banks, which together hold 99.87% of JP’s stock.
Barons Financial Services is the exclusive advisor to sellers.
JP, which posted a first-quarter net loss of €8 million (9.8 million), received a €50 million capital boost in September 2011. JP is undergoing restructuring after failing to find international strategic partners.
CEO Klemen Bostjancic told ATW the carrier will restructure its fleet this fall (ATW Daily News, July 3). Its three Airbus A319/320 are expected to be phased out. The carrier also operates four Bombardier CRJ200s and four -900s. It transported 1.16 million passengers last year.
source: atwonline.com
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