Business News

Adria Airways Selling Flight School, Hangar

Brnik, 24 August (STA) - Slovenian flag carrier Adria Airways is collecting until 30 August bids for its flight school and flight simulator, maintenance hangar, workshops, airport platform and an office building. While the call for bids has been on the airline's website for a while, the company also published it in the daily Delo on Saturday.

The decision to publish the call in the daily media raises speculations that not enough bids have been collected or that the company wants to avoid reproach that the sale of property may be covert state aid, which has surfaced when the call was only on its website.

Adria Airways generated an operating loss of EUR 1.4m in the first seven months of the year, while the loss stood at EUR 7.3m in the same period last year.

The company expects to end the year in the black, which should be possible even without the sale of unnecessary property, according to Adria CEO Mark Anžur.

Anžur has recently explained for the STA that the company needs to reduce the complexity of its operations and secure liquidity for the winter, part of which is also the sale.

The flag carrier must secure own funds to complement the 2011 capital injection in line with EU regulations.

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